“Woe to the land whose king is a child and whose leaders are already drunk in the morning. Happy the land whose king is a nobleman, and whose leaders work hard before they feast and drink, and then only to strengthen themselves for the tasks ahead”. (Eccl 10: 16-17)

"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat

In every stage of these Oppressions We have Petitioned for Redress in the most humble terms: Our repeated Petitions have been answered only by repeated injury. A Prince whose character is thus marked by every act which may define a Tyrant, is unfit to be the ruler of a free people. Source – The Declaration of Independence

Monday, November 19, 2012

Gold Chart

Gold has rebounded sharply this AM and run right back into a strong level of selling resistance noted on the price chart. If the bulls can push through this region, they stand a very good chance of taking the market to the $1780 level.

What more can you say that "RISK ON" is in vogue today. WAX ON; WAX OFF; RISK ON; RISK OFF.

Wanna know why Silver is so strong today? Look at the following chart of the CCI. Yep, Risk on.

Home Sales Data uptick has copper bulls giddy with delight.

Today is "BUY EVERYTHING IN SIGHT" Day.
Tomorrow, who knows?

Keep the Pressure on those Red State Governors to say "NO"

The following article in the Wall Street Journal gives a strong voice to those of us who believe that the States should simply say "NO", to this intrusion on their sovereign rights when it comes to implementing Obamacare.

There is still a very good chance of muking this thing up and preventing a federal takeover of 1/6 of the US economy. If you want to know how health care would fare under such an event, take a good, long hard look at the US Postal Service.

Capretta and Levin: Why ObamaCare Is Still No Sure Thing

The majority of state governors are Republicans, and they have the power to disarm the health-care law.

http://online.wsj.com/article/SB10001424127887324735104578122741540428344.html?mod=rss_opinion_main