Stocks are looking right puny. Dow Industrials & Russell 2000 have lost all their 2017 gains & today closed below 30 December 2016.
Dow Industrials today misplaced 72.32 (0.37%) and closed at 19,732.40. S&P500 scraped off 8.2 (0.36%) to 2,263.69.
That doesn't' constitute a "breakdown" but it does look a bit green around the gills. Dow is closer than the S&P500 to the bottom boundary of its Megaphone formation, But both have triggered the tripwire of a decline, standing below their 20 DMAs.
US dollar index tapered off 13 basis points (0.13%) to 101.10. Nobody's betting much until after the inauguration. It doesn't make any real difference materially, but psychologically it's important. Dollar is either just before breaking down badly or ending its correction. Inertia is gravityward.
After a gargantuan rise from November's 1.771% low to the Dec 2016 2.62% high, the 10 year treasury yield has been correcting. Miss not, neither fail to observe, that the rally took the 10 year yield up through the downtrend line from 2007 AND broke the 35 year downtrend line. Interest rates ARE going up. Chart's right here, http://schrts.co/vUJO4G
Seems that strong economic data suggested support for the Fed raising rates -- at least, that's the explanation for the minute. Whatever the cause, it's driving treasury security prices down. Expect a firestorm if/when rates really begin. US 30 year bond has lost almost 15% since the July high, and there ain't no cavalry riding to the rescue. Here's the 30 year bond price chart, http://schrts.co/IoR0Nw
Gold was fighting to stand up today, after Jammin' Janet knocked it to the mat. Gold at Comex close had lost $10.40 (0.9%) and closed at $1,200.90. Silver lost 1.6% or 26.8¢ for a 1696.7¢ close. Both rose in the aftermarket, to $1,204.10 & 1705¢.
Gold's five day chart argues that it bottomed today with a low at $1,195.40. Also, even though it was knocked below support/resistance at $1,200, it bounced off that spike then climbed back over $1,200. Good.
Silver's 5 day chart shows a rise into Wednesday's peak with a sharp decline back to a V-bottom today. Hesitancy in stocks & metals shows interest & money shifting from stocks to metals, but not many are convinced yet. I am convinced. I believe we saw the low back in December, and I think Trump's inauguration & later face off with the reality of ruling will help power silver & gold higher.
But I ain't no more'n a nat'ral born durn fool from Tennessee. What do I know?
On 19 January 1953 68% of all American TV sets were tuned to CBS as Lucy Ricardo of "I Love Lucy" gave birth to a baby boy. Go on, admit it. You loved "I Love Lucy." Lucille Ball was hilarious.
TRUMP INAUGURATION SPECIAL. I'm cleaning house before the new man moves in. All lots are as is, no more at those prices when I run out. Spot gold basis for these prices is $1,204.10, spot silver $17.05.
LOT No. 1: GOLD AMERICAN EAGLES
US gold American Eagle coins are minted in 21 karat gold (0.9167% pure). I have two one-half ounce American Eagles at $645.50 each and sixteen (16) one-tenth ounce at $137.50 for a total of $3,491 plus $35 shipping for a grand total of $3,526.00. One lot only.
LOT No. 2: AUSTRIA TO SOUTH AFRICA
Two Austrian Philharmonics, one ounce at 0.9999 fine, for $1,252.25 and Five (5) South African 1/10 Krugerrands at $136 each. Total is $3,184.50 plus $35 shipping for a grand total of $3,219.50. 2.5000 oz total at 5.8% over gold. One lot only.
LOT No. 3: MEXICO TO NETHERLANDS
These are gold coins from the old Mexican peso series, minted at two gold pesos equal almost one gold dollar, 90% pure (21.6 karat). Lot contains Two (2) Mexican twenty pesos (0.4823 oz fine gold content) at $609.75 each, One (1) Mexican Ten pesos (0.2411 oz) at $306.00 each, Two (2) Mexican five pesos (0.1206 oz) at $155.25 each, Five (5) Mexican 2-1/2 pesos at $80.60 each, Two (2) Mexican two pesos at $64.40 each, and just for fun, One (1) Netherlands ten guilder (0.1947 oz) at $248.50 each. Subtotal is $2,616.30, plus $35 shipping for a grand total of $2,651.30. Great small gold coin assortment - contains 2.0395 oz at a 6.5% premium over gold. One lot only.
LOT No. 4: US GOLD COMMEMORATIVES
US gold commemoratives were minted from 1986 to 2004 to the ancient gold standard, 90% pure gold with a fine gold content of 0.0483875 per dollar. I have only twelve lots consisting of Two (2) US $10 commemoratives (0.4838 oz) at $600.10 each and Three (3) US $5 commemoratives (0.2419 oz) at $303.50 each. Subtotal is $2,110.70 plus $35 shipping for a grand total of $2,145.70. One lot contains 1.6933 oz fine gold at a 3.5% premium over gold. Y'all are stealing these. Twelve lots only.
LOT No. 5: US SILVER DOLLARS
Everybody loves US silver dollars minted before 1936, but it's hard to find them properly graded. They are supposed to grade Very Good (VG) or better, but apparently a lot of dealers have eye trouble. These coins have no rim dings, no cuts, and they have full rims. I have thrown in a few Culls that do NOT grade VG or better.
I have one lot only with Eight (8) 1921 Morgan dollars (0.765 oz fine silver) at $22.50 each, Sixty-five (65) Peace dollars (0.765 oz, minted 1921-1935) at $21.50 each, and Twelve (12) cull Peace or Morgan dollars at $19 each. Total including $35 shipping is $1,844.50. I am selling this lot "as is", and guarantee that all dollars except the culls grade Very Good or better.
LOT No. 5: SILVER BULLION BARS
I have two (2) one hundred ounce 0.999 fine silver bullion bars at $1,800 each, plus Four (4) each ten oz. 0.999 fine silver bullion bars at $181.00 each. Subtotal is $4,324.00 plus $40 shipping makes the total $4,364.00. That buys 240 troy ounces at a 5.7% premium.
First come, first served, and no re-orders at these prices. I will write orders based on the time I receive your e-mail.
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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:
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If you break your word to us, we will never again do business with you.
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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