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This is going to be an odd post, but perhaps helpful to some of you. I’ve a fan of owning physical precious metals (both silver AND gold), and from time to time I’ve gone to Costco (of all places) to keep adding to my silver. I’m not sure why, but Costco’s price has DROPPED. I suspect they will correct eventually, but moments ago I placed this order (they only let you buy five 20-coin packs at a time):
Gold continues to thrive, as it occurs to more and more people that the world’s paper currencies are going to be ultimately worthwhile as a robust toilet paper and little else.
There have been many instances at 5 a.m. when I’ve reached down to grab my iPad off the side of the bed, nervous about what I’d see once I fired up the quotes, but this morning had to be one of the three hold-your-breath occasions. I’ve never been so happy to see red in my life, and the ES, NQ, and RTY were all solidly down, prompted, at long last, by the reversal in the USD/JPY juggernaut.
In spite of what happened between July 16 and August 5th, the market has not lost its ability to be incredibly annoying and frustrating. Below we see the /ES over the past twenty-four hours or so. It blasted higher on Tuesday, then it sat for a dozen hours going nowhere, and then it went into up/down spasms after the CPI. As of now, the /ES and /NQ have gone bright green again, with the small caps being the odd man out.
Go, baby, go!
