I was also surprised that the Dow didn't tank on Friday.
We are still the most stable market around, until confidence
erodes and the dollar declines further and the Clinton scandals
unfold. Over the years I have known very few people that have known
or cared about his exploits in Arkansas and elsewhere. You obviously
understand the financial implications that are about to unfold.
Let's see if Paula Jones' oral implifications hold up in court.
Now Monica Lewinsky has a "soiled" gown that could provide a DNA
trail to our Pres. First read about that in the Drudge report. Guess Quick Willie couldn't wait. He should have taken long grain rice from his Chinese pals instead of staying with minute rice. Babble, babble,
babble. Let's see how the spin doctors try to talk down gold this
weekend. Will probably announce that Jack Elam is selling his gold
teeth. That should knock down the price a few bucks. People ask why
we discuss such matters about our President. Once confidence in the
dollar, bonds, and our stock market is shattered, gold should be the
obvious beneficiary. If these scandals don't result in a rush to gold, what will? Should gold rally to, say $330, wouldn't be surprised
to hear that Soros and the Japanses have been accumulating gold.(IMO)
Here are two indicators to be aware of: Dow at 7161, the Transports
at 3004. Should both of these levels fail to hold, it would mean that
the Down Theory has signaled a reverse in trend. This is widely followed by money managers. This could signal a sell off possibly to
the 6500 level. The long term uptrend wouldn't be broken until the
down breaks below around 4500, which is unlikely but still too early to speak about. Don't go crazy trying to make sense of what's going on. Sometimes I believe that astrology and cycles have already been
predetermined and we are powerless to prevent the inevitable. My
logical side, If I have one, tells me not to pay attention to such
baloney. Have a great weekend, my rantings are complete. |
