O.K. Thursday was a big winner for us gold and silver bugs. Gold finally managed to close ABOVE $1,750. Silver finally closed above $34. Things are looking up. We just finished the strongest January in years and February is starting out STRONG. The next major resistance for gold is $1,800 and for silver it’s a wee bit above $35. $37 would be better. See the two following charts:
Also, check out this Zero Hedge Article titled Record 1.2 Million People Fall Out Of Labor Force In One Month, Labor Force Participation Rate Tumbles To Fresh 30 Year Low:
It should be obvious by now that I really respect Richard Russell and Jim Sinclair. But we have a bit of a disconnect here. Russell, at this link, is worried about a collapse of the Dow and Sinclair says the “liquidity” being created by the Fed will be very good for the stock market – and gold. They are both gold bullish, but one of these icons will not be right in his view of where the stock market is headed. What do I think? Hell if I know, but I’m out of stocks (mostly) anyway because I feel very secure in physical gold, silver and platinum. I’ve got a winner no matter what happens to the stock market so why gamble?
I will be on vacation next week. Susan and I are driving up to Boca Grand to spend time with friends (including Backwoods Jack and his wife Judy – who are currently cuddling up in our guest bedroom in Miami). I have already written Monday’s letter in advance, but from Tuesday through Friday of next week, my newsletter will be temporarily replaced by Ranting Andy Hoffman’s newsletter. It will give many of you an opportunity to see what the Ranting one has to offer. He has a very loyal following and you will find his style and comments very interesting, I’m sure. I’ll be back a week from Monday.