Monday, August 12, 2013

12 Aug 2013

Silver is bouncing off the bottom of its channel. Recall a while back I said this old resistance point (from 2009 and 2010) should serve as support.  I don't think the bull market in silver or gold are completely over, but I don't know if what I think matters.  The formatting on this site is awful.

 Medium term bounced slightly today.
Short term bounced slightly today.

Still serious weakness in the summation index.  I still think my indicators (as I've identified most bottoms the past three years and far more tops than actually occurred) are valuable for someone who has the time to actively trade and has lots of willpower.

I'd be lying if I said I still traded a lot like I did in 2011.  My energy has been devoted to my new job and exploring nutrition and health.  Good health seems incompatible with active trading stress.  Maybe one day I will return.

The Fed's balance sheet continues to grow.  Monetary base growth continues to outpace inflation, and the yield curve remains normal.

There was some interesting news on Zerohedge today:  that taper odds are higher, that the Fed is finally admitting QE may not impact real economic growth, and that they are blaming a possible crash on leveraged ETFs.

"In the next 50 years [i.e., by 2021], fine dust that humans discharge into the atmosphere by burning fossil fuel will screen out so much of the sun's rays that the Earth's average temperature could fall by six degrees. Sustained emissions over five to 10 years [i.e., 1976-81], could be sufficient to trigger an ice age."
Washington Post, July 9, 1971

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