Like I said yesterday, VIX remains in its channel and heading to its long time support of around 16.50. This means we need some serious dry-up of excitement to both sides.
I was very tempted to go long EXK and RIC today as they seem to have broken a triangle to the upside, but considering the overbought indicators above, I decided not to. I may regret it as silver and gold also broke the resistance lines I had drawn for some time now. There is a possibility that they both fail to maintain that break, but long term I remain an extreme bull.
The economic reasons for the fall of Rome: http://ancienthistory.about.com/od/fallromeeconomic/a/econoffall.htm don't miss the chart of debasing the coins chart.
Elizabeth Warren on Jon Stewart.