Do you read this daily every day? Ah ha! You’re addicted! So am I. I have to write every day, even though the day-to-day market moves are nothing more than “noise,” and have no real meaning against the backdrop of the “Big Picture.” That’s what the computer age has done to us. We have become slaves to the screen and minutia information. At least you can take comfort in knowing that the “daily information” you get from this site is as good as it gets. But seriously, you could disappear for a few weeks and, in the long run, it wouldn’t make the slightest difference. Just be sure and come back by late September – that’s when the fun begins!
Meanwhile, gold is stuck in a range between $1,530 to $1,650 and as of this morning, at 8 a.m., it’s up $21.20 at $1,618.10. Last week’s break held May and December lows. I get the feeling that they will perform just fine for the next few weeks. Let’s see if gold can top $1,650. If it holds at that level, the next (technical) targets are $1,674 and $1,700. Those are numbers the bulls can live with.
The last time I took a week off from writing was one year ago, when Susan and I visited Italy and Tanzania. I’ve got to break this daily writing “addiction,” and this week is as good a time to start as any, because we have guests coming to stay with us from Saturday through Tuesday I will provide a daily newsletter for today, but the next one won’t appear in your in box until July 11th. I expect gold and silver to move higher between now and the 11th, so it’s a good time to disappear. Hand holding not required!
While I am on vacation, I recommend that you read Andy Hoffman’s daily Rants. If you haven’t checked out his Rants lately, this is a good time to do so. He is prolific, brilliant and calls things like they are, no punches pulled.
Here are a few of Ranting Andy’s comments from yesterday that are particularly worthwhile: