One of the great things about living in the country is that God in his providence continually teaches you that life is more fragile than you assume, so don't take it for granted. Today, our tenuous link to the outer world through the Wi-Fi internet is down. Hence I must commentate off my cell phone, which I love like a nest of chiggers, then hunt a place to transmit.
Stocks rose today, the Dow up 64.33 (036%) to 18,076.27 & the S&P500 up 4.47 (0.21%) to 2,114.07. This is all meaningless noise in a market whose overall trend is rolling over to the Mariannas Trench. High is behind us.
Most eye-catching today was the US dollar index. Merciful heavens! After it got hit by a car yesterday, it stood up and fell into an open manhole today, down 51 basis points (0.54%) to 95.36. Yes, that is a close below the 20 DMA (and long ago the 50 DMA) and argues loud and harsh that the April high at 100.27 was THE high for the rally that began a year ago July. Case you aren't paying attention, this is GOOD news for silver & gold.
But if it's such good news, why did they fall today? Media reports gold fell on "Greece hopes & stock gains." For the rational and fastidious mind, that explains nothing. On hopes of resolving the Greek sovereign debt crisis, maybe, but on a stock market up 0.36%, not a chance, Louise.
Technically, silver dipped into the even-sided triangle we've been watching, but gold did not, although it reached its lowest level in three weeks.
The back and forth is wearing me out. They sink, but buyers won't let them sink to the bottom. They rise, but sellers cap the rise. Either it is finely balanced and monstrous strength, or it is a world of indifference.
I am most interested in what silver will do tomorrow. If it holds & turns up, then maybe today was the low of it. If not, we will be doomed to grind out a weary June guessing each day if we've seen the low.
I'm still bothered by silver & gold weakness coupled with dollar weakens. That ain't right. Of course, the Nice Government Men might be making sure the market doesn't panic in the face of a tumbling dollar & fumbling Greece.
Is it real or Memorex? Who knows?
SPECIAL OFFER: US 1/10 GOLD AMERICAN EAGLES
Somehow or other I wound up with 200 One-tenth ounce gold American Eagles in stock, an item I seldom stock. These are 22 karat (91-2/3% pure gold) & have a net fine gold content of 0.1000 troy ounce.
I am pricing them to say good-bye to them, $134.00 each. This is your PRIME survival coin. Based on a spot gold price of $1,184.70, these have a 13.1% premium, very low for this coin in these quantities. You may find them cheaper somewhere, but they'll burn your hands if you do.
OFFER No. 1.
Twenty-five (25) each US American Eagle one-tenth ounce gold at $134.00 each for a total of $3,350.00 plus $35 shipping, a grand total of $3,385.00 I have eight (8) lots only. You may order as many as you like up to those eight lots.
First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail.
Sorry, we will not take orders for less than the minimum shown above.
All sales on a strict "no-nag" basis. We will ship as soon as your check clears, but we allow Two weeks (14 days) for your check to clear. Calls looking for your order two days after we receive your check will be politely and patiently rebuffed. ORDERING INSTRUCTIONS:
1. You may order by e-mail only to email@example.com. No phone orders, please. Please do NOT order by replying to THIS email, because it will delay your email.
Your email must include your complete name, address, & phone number. We cannot ship to you without your address. Sorry, we cannot ship outside the United States or to Tennessee.
2. When you buy from us, we cannot later change or cancel the trade. We are giving you our word that we will sell at that price, & you are giving us your word that you will buy at that price, regardless what later happens in the market, up or down.
If you break your word to us, we will never again do business with you.
3. "First come, first-served" means that we will enter the orders in the order that we receive them by e-mail, till supply is exhausted.
4. If your order is filled, we will e-mail you a confirmation. If you do not receive a confirmation, your order was not filled.
5. You must send payment by personal check or bank wire (either one is fine) within 48 hours. It just needs to be in the mail, not in our hands, in 48 hours. Sorry, no credit cards.
7. "No Nag Basis" means that we allow fourteen (14) days for personal checks to clear before we ship.
Want your order faster? Send a bank wire, but that's not required. Once we ship, the post office takes four to fourteen days to get the registered mail package to you. All in all, you'll see your order in about one month if you send a check.
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger