Greetings to all! Get past the 1st paragraph here and it is very on-topic.
My bad! My state legislative seat changes snippet was unfairly singled out from a diversified post. It was inserted to show that the election carnage happened at the local level as well...and for a reason.....pick your own.
I also am sorry to not realize that since I've been lucky enough to aleready make my money [age 68], I am much more focused on how all this mess will effect society and our offspring in the future. You folks are mostly younger and need ECU to shine to secure your family financially....as it likely will.
Moving from $.80 to $1.44 in only 5 days is a bit much, plus we gapped the open today, so dont fret a quick 25-50% retrace of that $.64 surge, a healthy technical occurance. Of course the retrace could easily come from a higher level, so if we only back up today to fill/test the opening gap today, then she could run to the Oct 2008 high around $1.90 if I recall....no big resistance between here and there if volume stays healthy.
G&S are puttin' serious hurt on the shorts...spot gold at over $1422 earlier, and silver approaching $29....as in $29! Since $28-30 is initial resistance, dont sweat a short quick pullback here as well [if it occurs]. Asset inflation from QE 2, 3, and 4 will keep the inflationary fires stoked.
Iwas just messaged that CNBC talking head Melissa said she finally gave in and bought gold at $1300, and was boasting that it is now $1420......yeah sure! Where was she at $500 and $800 and $1000? I still estimate that less that 8% of folks in the U.S. own gold. When it gets to 70-80%, then we have a bubble, so expect YEAR more of this, although a good retrace could come from the high in the first half of next year. The cycles [a high or a low] will likely key off of Armstrong's "pi" turning point in June 2011.
I wish you all the best, and again, my apologies for political boat-rocking, but money is a double edged sword if the financial system and government is collapsing because was allowed to grow to the point where there is no more people's money to take, and then no more middle class. Few here really want that.
I have seen this very type of junior minor explosion 5 times since the late 60s...last time was early 2006...if we can only figure out where to sell these surges caused by money influx and movements. The geometric scale gets way larger on each occurance and the volatility is breathtaking! So, we try to follow the money flow and try not to allow greed to skew our perspective. WATCH THE VERY MATURE BOND BUBBLE...SAVINGS RATES NOW UNDER 1%!!!!
I will be back to the states next week and jump in my vehicle and go dig and count precious stuff again, knowing it is valued much higher than when I left....pic
ps...camels stink more that the worst sex I've ever had!
