Friday the 13th, France gets Standard & Poors downgrade along with Austria, from AAA to AA+; seven other countries downgraded too:
excerpt from the above piece:
"downgrades increase the dependence of the big banks on finance from the ECB - and for the economic recovery of the eurozone, that's a very bad thing”
Robert Preston, Business Editor- BBC
Thanks Robert...tell us! Who is bailing out the ECB? Why it's the private consortium of banks in charge of printing U.S. fiat currency- the Federal Reserve...BUT, few seem to talk about this:
Then too, the same non-federal private consortium known as the Federal Reserve is openly hinting at more easing- this before the scheduled meeting later this month:
ALL this afoot this Friday The 13th, and Gold trended down toward the 200 day moving average, closing in NY @$1639.70.
Down, not up?
thanks T/C, I am already in at 1.26 or so, so i would not buy till that point as i want my dollar cost average to come down alittle more. If you are wrong and we take off due to good earnings or more news coming forward than fine I already have my position, but if you are right and i get that pullback i will add more. I really enjoy your commentary on thsi board a long with JB and others and look forward to your posts and comments on this board.
When the dollar goes up, UUP is a "Dollar Bull" ETF. UDN is a "Dollar Bear" ETF.
I also believe we'll see below $1.10. After the next drop, I'm looking to buy AG, AUY, EXK, NGD, SMNPF, GEOI, NOG, RAM, TPLM, NQ, & LYSCF (below .96), and add to FSM, KOG & SNDXF. I track about 25 others that are also possibilities.
VIX is at a nice low price, too. Maybe we get another round of higher volatility before we get QE3?
We kind a like the same companies Drum, as I like AUY, IAG, NGD and AUQ as Gold producers. FSM, BCM and SPM for Silver and a bunch of Juniors like for example SAC, SVL, AUMN, RVM.
For Oil KOG indeed is one of the better picks. Also you might wanna check out EXXI and TISDZ.PK, of which the latter is a royalty play...