What Does It Mean For The Election?
November 4th 2008 18:41
Gold is near to a breakout. Currently up 32.17 to $756.6, it needs to exceed the last high of $772.20 to give a short term buy signal. According to the video from Adam Hewison, that target is around $800.
Silver is also up today. Currently up $.32 to 10.11, it needs to top $10.14 (see chart)
|The USD hit 86.5 yesterday, but has fallen off sharply to 84.50. It's interesting that Forbes is Credit-Crisis Fever Has Broken. The drive tio cover dollar shorts is off with Libor and US rates back in line, so now the USD can resume its fall.
Why wouldn't you sell dollars? Whoever wins the election is going to be faced with big problems and the politicians solution is always more of the same medicine that got us into the problem. Think about that a moment. My mom is alergic to sulfa drugs. She gets hives and swells like a puffer fish. Imagine her going to the doctor and he prescribes even bigger doses of sulfa drugs to cure the problem. You and I can figure out pretty quickly how that game ends. I can sue the doctor, but who do we as taxpayers sue?
UPDATE:
Oil has moved above it's recent daily high of $70.60. Oil is currently tading at $71 up $7.09!
Silver is also up today. Currently up $.32 to 10.11, it needs to top $10.14 (see chart)
|The USD hit 86.5 yesterday, but has fallen off sharply to 84.50. It's interesting that Forbes is Credit-Crisis Fever Has Broken. The drive tio cover dollar shorts is off with Libor and US rates back in line, so now the USD can resume its fall.
Why wouldn't you sell dollars? Whoever wins the election is going to be faced with big problems and the politicians solution is always more of the same medicine that got us into the problem. Think about that a moment. My mom is alergic to sulfa drugs. She gets hives and swells like a puffer fish. Imagine her going to the doctor and he prescribes even bigger doses of sulfa drugs to cure the problem. You and I can figure out pretty quickly how that game ends. I can sue the doctor, but who do we as taxpayers sue?
UPDATE:
Oil has moved above it's recent daily high of $70.60. Oil is currently tading at $71 up $7.09!
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