Silver Price backpedaled 11.5¢ (0.7%) to 1691.4¢ on Comex. Gold Price swooned sixty whole cents to $1,223.40. Monday both metals began an uptrend on daily charts but silver price must hold 1685¢ and gold price $1,220 to validate that uptrend. And of course, uptrends don't go sideways, either, so both metals would have to advance. We might have seen the lows, we might not. Be patient. Will probably turn this week. Financial news is filled with headlines "US Dollar hits 13 year high." Hot zig, the millennium hath arrived. Not exactly. Dollar index close up 19 basis points (0.19% at 100.44. Look at the chart, http://schrts.co/vjkLmd Now technically it's true that this dollar index close was higher than 16 March 15 (100.04), or 27 November 15 (100.07), and 2 December 2015 (100.02). However, today's intraday high at 100.6 was not as high as March 2015's 100.72. Look at the chart & you'll spy what I mean. The dollar index is merely challenging the old highs. Yes, it might break above 101 & run away. If so, it will rise a long ways, as high as 120. On the other hand, if it fails here it & falls thru support would be very, very weak. That would constitute an ironclad reversal. I notice too that not only is palladium roaring (rose $13.05 today to $718.25), but platinum is also raising its head, up $11.70 on a day when the dollar rose & gold and silver fell. Together with silver & gold's stickiness at 1690¢ & $1,220 I am hearing whispers of a bottom to this fall. So far they are only whispers. Stocks backed up today. Dow lost 54.92 (0.3%) to 18,868.14. S&P500 retreated 3.45 (0.16%) to 2,176.94. No clear sign of a downward reversal yet, but watch for it. It will come. I was reminded this morning how utterly dull & obtuse I have been about remembering those things that really counted to my dear Susan, birthdays among them. Later I was working on Volume 3 of At Home In Dogwood Mudhole, trying to get it ready to publish before Christmas. By the grace of God, I ran across this little story from 2011 that helped ease my heart considerably: "Some years I go twelve months without remembering a single birthday, not even my own. Women do not understand this phenomenon. They are born with a tiny gland in their brains, just behind the ear, that doesn't appear in men, called the Birthday Gland. It's working remain one of those mysteries of nature, but it begins to prick them in their hearts whenever a birthday draws closer than thirty-one days. This pricking also stimulates the entire Greeting Card, Present, and Partying limbic system in one of Nature's most ingenious feedback loops. Once all the glands of the GCP&P system begin secreting, a birthday celebration is virtually assured, and virtually impossible to miss. "As a male, I lack all that equipment, so Susan has adopted all sorts of tricks and stratagems to makes me remember birthdays, especially hers. I reckon she has pretty well reached the end of her rope with me, abandoning subtlety altogether. This year, about thirty days before her birthday, right to my face she began saying, "My birthday is coming up!" She must have feared that wasn't hitting my otic nerve, because finally she spread a catalog in front of me. Pictured there was a Bottle tree. Plain as day, no mystery, no oblique hinting, she pointed and blurted out, "I want a bottle tree for my birthday!" Negotiators need not apply. " I got it, I got it, I just forgot it. Friday before her birthday on Tuesday I woke up terrorized, realizing that I had not secured her birthday present, nor had I a clue where to buy a bottle tree, nor, with a full Saturday, had I time to hunt one down. " Susan was out of town visiting her sister, so I hopped up and ran to the office computer in my underwear. I typed "bottle tree" into the search engine, and sure enough, up popped www.bottletree.com down in Mississippi. I got my order in fast enough to spin your ears off, and I ordered the BIG one, too. Not a chance it would arrive by Tuesday, but I had the dated receipt to prove I had tried. "Sure as this world it did not arrive, and somehow even my receipt crawled out of my dresser drawer, but Susan did accept my notarized affidavit." [End] |
Argentum et aurum comparanda sunt —
Silver and gold must be bought.
Silver and gold must be bought.
— Franklin Sanders, The Moneychanger
