Loading ...Re shares…..someone is sitting on ALL Juniors…both GDXJ and SGDJ are up jack for the metal move…I wonder if the Ultra short boys are trying to hold them back….cus they are in a world of pain if they have to cover serious Vol…with NO sellers.
Morning Farmboy
Yes, I do think that we need to see the shares really breakout to confirm this is nothing more than a war drum bounce that will fade as soon as peace breaks out. I did see that the China-India saga on the border is heating up as well.
Last time gold was up around these levels the HUI was approaching 220 – currently sitting at 196 – not good.
Nice to see a little fear in the SM though. VIX now up 3 straight days.
IPSO – re: new poll
Appropriate in my view .
I would like to see our military do something of the order of what was done in Libya in (1986 ?) . Libyan fighters were threatening our air force flights in the Mediterranean , claiming extended territorial limits . Reagan launched a surgical strike in which a missile ‘found its way’ into Ghaddafi’s bedroom window after a strategic phone call was made warning him to get his family out of the palace post haste . He pulled in his horns about territorial limits in the Mediterranean after that , as I recall . Of course the ‘International Community’ was enraged . France wanted him removed , and forbade our military to overfly France during the strike . Ghaddafi was left in place as a neutered pussycat for a couple of decades until Hillary screwed things up to put the Muslim Brotherhood in his place .
I think with our more modern military technologies and satellite surveillance , we could surgically upset the next ICBM launch ( blow it up on the pad ) while Fat Boy watches , and perhaps take out his Mercedes limo in the parking lot at the same time to send him a meaningful message . That would certainly be better than a lengthy repeat of the SNAFU in Korea in the 1950’s – although the DC Establishment and their Military-Industrial Complex buddies would prefer a more expensive route – in dollars , but also in lives .
FYI-[klik to enlarge chart]
Rick’s Pick for Thursday
Calculating the Risk of War
Updated Wednesday, August 9 at 6:05 p.m. EDT
I once joked here that it would take an outbreak of nuclear war to slow down the buying that has impelled this bull market relentlessly higher since 2009. We now know that even a credible threat of a nuclear attack on U.S. soil is not sufficient to deter buyers for long. Late in Wednesday’s session, short-covering bears couldn’t wait to get ’em back. Their panicky buying, even as Kim Il Un was threatening to nuke U.S. air bases in Guam, turned what had been a badly losing day for the S&Ps into a small winner
A Dangerous Stalemate
Will the short-covering panic continue? I have my doubts stocks can go much higher unless the conflict with North Korea is resolved peacefully, and soon. But neither do I expect the broad averages to plunge anew unless the threat of war escalates. That can happen in two foreseeable ways: movement of troops into battle positions, or the launching of a nuclear warhead by North Korea. The U.S. seems unlikely to strike pre-emptively because that could provoke a retaliation that would put millions of lives at risk in Seoul. Even so, Trump will have to respond to Kim forcefully because no leader, even those of China or Russia at their most menacing, has ever made such pointed threats before. Iran is surely watching closely, and a soft response from the U.S. could leave the world in even greater jeopardy than it faces solely from the psychotic despot who rules North Korea.
Good morning Oasis …. MUX buys Black Fox Mine from Primero
Primero Announces Sale of Black Fox Mine and Complex
Buygold, I’m With You,
Show Me The Rally ! Need to see some excitement in the PM stocks to confirm. Fingers crossed.
Moggy @ 20:21 Moggy and All
Wanka suggested we use the Tent-A-Thon address to send him notes and cards. I scoured the Tent-A-Thon archives and found those two addresses that I posted. If I, or anyone, can confirm a current working address to send him mail I will post it. Sorry about that folks!
Last I heard prayers are still getting through. 🙂
Morning Maddog
Would expect that seller to be there pretty much all day. I’m surprised by the strength in silver to be honest.
Maybe there’s more to this Korea story other than Kabuki theatre or a reason for the SM to sell off.
The safe havens are being bid, USD, bonds a little, and dare I say it – pm’s a little. Still want to see the shares wake up and out perform.
Silver Train
New York Central heritage “Babbling Brook” rolls thru the swamp.
http://www.railpictures.net/photo/625870/
What Deep Thinkers Men Are
I mowed the lawn today, and after doing so I sat down and had the first cold beer of the day.
The day was really quite beautiful, and the beer facilitated some deep thinking, as it usually does.
The wife walked by and asked me what I was doing, and I said “Nothing.” She replied back, “You did that yesterday.” To which I answered, “I wasn’t finished.”
The reason I say ‘nothing’ instead of saying ‘just thinking’ is because she then would have asked ‘about what ?’
At that point I would have had to explain, once again, that men are deep thinkers
about many various topics, which would then lead to other questions. Which would interrupt my busy day.
But today I was once again pondering an age old question . . . ‘Is giving birth more painful than getting kicked in the nuts ?’
Women always maintain that giving birth is way more painful than a guy getting kicked in the nuts, but how could they really ‘know’ ?
Well, after another cold beer, and some more heavy deductive thinking, I have come up with an answer to that question.
Getting kicked in the nuts IS more painful than having a baby, and even though I obviously couldn’t really ‘know’ since I have not experienced birthing, there is reason behind my conclusion.
A year or so after giving birth, a woman will often say, “It might be nice to have another child.” On the other hand, you never hear a guy say, “You know, I think I would like another kick in the nuts.”
I rest my case.
Yes, it’s time for another beer, and then maybe a nap in that hammock that I put up just for this very reason.