Here's a recent quote from Fred Hickey of "The High-Tech Strategist:
"Including this year [as of 2 September], gold has risen in 14 of the past 17 years at a 9.4% compound annual rate, far surpassing returns from stocks. That's why I still contend we're in a long, secular bull market (driven by the central bank madness) and that the 2013-20155 decline was simply a sharp correction phase, not unlike the 1974-1976 cyclical bear period for gold in the 1970s secular bull market. That's why I also believe that we've now begun the second phase of the secular bull with the most spectacular gains in price still ahead of us."
Today gold extended its gains from last week. Stocks stepped through an open manhole, holding hands with the dollar index.
US dollar index fell 59 basis points (0.63%) to 92.26, leaving me wondering how puking sick it really is. Every time it manages to climb a bit, it falls into the nervous fantods & faints. Mercy, what a wreck. Beginning to plant the suspicion in my mind that the dollar index will stage no more than a reaction rally, and that won't carry even to 94, after which it will reverse again earthward, flying like a two horned anvil dropped out of the Goodyear Blimp. If the dollar index closed below the last low at 91.55, it will sink like the Lusitania.
Time finally caught up with stocks. In a most unedifying way stocks reneged today on the rally their little breakout promised last week. Ooooo, very weak trading. Should have reached at least for the old highs. Rather, in one day it erased the gains of the last three.
Dow fell a meaty, bruising 1.07% (234.25 points), closing at 21,753.31. S&P500 tumbled & skidded 18.70 or 0.76% to 2,457.85. S&P500 chart is here, http://schrts.co/vtdPMb Now both indices closed above their 50 day moving averages, so a feeble chance remains they will reverse upward tomorrow. More likely however is the main chance, that stocks have failed and now gravity is pulling them toward the earth's core like a tractor beam.
But y'all know you can't trust my opinion! I'm only a nat'ral born durned fool from Tennessee, and ain't even been wearing shoes but these last two years, and ain't never even seen a pair of them pointy-toed Gootchies them Wall Street magnets wear. But then, too, orphans & widders ain't in no danger of my stealing their last peck of corn meal, either.
Today gold shot up $14.70 (1.11%) to $1,339.20 on Comex and in the aftermarket kept on steamrolling to $1,342.30. High came at 1,244.10. Chart's here, http://schrts.co/2nArfA
Now y'all listen to me, hear my words: gold has broken through the downtrend line from the 2011 high. That was the last barrier remaining to confirm the uptrend from the December 2015 low. Y'all think I'm the only person in America can read a chart? I heartily doubt it. And when them other chart-gazers look at that gold chart, they're gonna bust their cell phones running to buy gold.
Comex silver rose 12.6¢ (0.71%) to 1784.50, after hitting a high of 1800.1¢. Trading in the aftermarket at 1793. Some durn fool told y'all that onct silver commenced a-running, it warn't no big step from 1725¢ to 1866¢. Who was that anyhow?
Take a long gander at this silver chart, http://schrts.co/o96FnV
Silver has confirmed that the December 2015 bottom was the low of the II correction wave. Minimum target for this move is 1850¢, although a little correction will intervene at some point. Twon't be nothing serious enough to wait on.
Gold has its eyes on $1,377, the July 2016 high. Might push plumb through it the first try, but more likely will knock on that door, wait and blow, then come back to knock it down.
Folks, we got us a gold and silver rally! Better climb on!
Many & manifold are the reasons I miss my dear wife Susan, not the least she did all the laundry. I threw it into a dirty clothes basket and it disappeared & several days later reappeared clean in my drawer and closet, bless her name.
Now I do the laundry.
Fitted sheets are my nightmare. They are a cotton anaconda waiting to wrap around my body and strangle me, a giant cloth squid with flailing tentacles that cannot be tamed, a fabric tarantula wrapping its hairy legs around my body. Some of you ladies PLEASE tell me, how do you fold a king size fitted sheet??
Susan had bought these three dryer balls. They're some soft-ball sized felt substance, suitable for dropping essential oils on to make your laundry smell good. So those balls kept looking at me, asking when I was going to drop some essential oil on them. This morning I ran up out of the basement and grabbed the bottle of lemon oil. Empty. I looked round and grabbed another, quickly but not carefully reading the label which was about the same color and ended in -N. Must be lemon.
I discovered not until I had dabbed it liberally on the dryer ball that it was CUMIN oil. Racing to correct my error, I found another bottle of lemon oil & dabbed the other dryer balls with it and threw all three back into the dryer, turned it on, and fled.
Now all my clothes smell like a wonderful lemony taco.
PRE-VACATION HOUSECLEANING SPECIAL OFFER: During the week of 10 through 16 September I will be vacationing and want to clean up my inventory before I go. My need is your gain, this stuff is priced to sell.
LOT No. 1: 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 Eighty-four (84) pre-1905 Morgan dollars (0.765 oz fine silver) at $25 each, Nine (9) 1921 Morgan at $20.25 each, Twenty (20) Peace dollars at $18.50 each, Fifty-one (51) cull Peace or Morgan dollars at $17.25 each. Total including $35 shipping is $3,567.00. I am selling this lot "as is", and guarantee that all dollars except the culls grade Very Good or better.
LOT No. 2: 100 oz SILVER BULLION BARS & Rounds
This lot offers Two (2) one hundred ounce 0.999 fine silver bullion bars (might be JM, Engelhard, RCM, or any other IRA acceptable brand, ISO 9000 or 9001) at $1,866.00 each Plus 100 each one oz. 0.999 fine silver rounds at $18.93 each. Subtotal of $5,625.00 plus $35 shipping makes the grand total $5,660.00. That buys 300 troy ounces at a 4.6% premium.
I have only Three (3) lots available.
LOT No. 3: 100 oz SILVER BULLION BARS & Rounds
I have only twenty (20) only lots of one troy ounce .999 fine silver rounds, each consisting of One hundred (100) each one oz. silver rounds at $18.93 each. One lot totals $1,893 plus $35 shipping for a total of $1,928.00.
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 one week (7 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 firstname.lastname@example.org. 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 Seven (7) 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