I'll start the week out with a chart from over at Slope. Oh, if only analogs like these played out more than the seemingly about 1% of the time that they do... Oh, if only...




Source: http://slopeofhope.com/2014/06/draw-thine-own-conclusions.html

The Pound.

Originally posted by jimkane

Everyone should remember what I have said many times, and reiterated on the updated mentorship page. Everyone should reread that page (even if you are already mentoring, and even if you have zero intention to ever mentor with me).

Hi Jim. What mentorship page?? Never saw one :)

Hi tomo. Here it is:

http://www.kanetrading.com/mentor/mentor.html

Originally posted by tomo

Originally posted by jimkane

Everyone should remember what I have said many times, and reiterated on the updated mentorship page. Everyone should reread that page (even if you are already mentoring, and even if you have zero intention to ever mentor with me).

Hi Jim. What mentorship page?? Never saw one :)

Thanks for posting that link, Marcin.

All I can say about gold and silver is 'holy sh#%'.

This is a move reflecting actual demand for gold and silver in real economy.

Originally posted by jimkane

All I can say about gold and silver is 'holy sh#%'.

3.50 pt range all day, after another new all-time high. Scares me to think some day we may not have all this wonderful action, but just days like today. I doubt they will ever shut the programs and the money spigot down, so it probably won't happen, but my usual pessimistic view (I say I am a realistic, but optimists, which comprise, I think, over 99% of the population, at least in western countries, say I'm a pessimist, pure and simple. The concept is, for optimists, you are for or against us. If you aren't in our club, you are a 'pessimist', end of story, no other terms available.) is I think, some day, we will have to deal with it.

On the other hand, Armstrong says that as sovereigns start going under one after another, money has to flow somewhere (I thought the money would be 'extinguished', and he is calling for massive deflation, so you'd think he agrees, but his timeframe is way different...), and he feels equities are the new 'reserve currency' for all the central banks, since they seem to be moving, in big numbers, all over the world, into equities. Imagine that, all the world's central banks, fleeing into stocks, especially U.S. stocks, en masse. Can you say DOW 250,000? 500,000?

I would have laughed a big belly laugh at that five years ago. Now all I can think of is 'What will be the next totally insane, totally unexpected, knucklehead move these maniacs will come up with to keep the game going and keep themselves afloat?' Nothing is off the table, and someone like me will have about zero chance to even imagine it. Whatever it is, it won't even be on my 'crazy brainstorm ideas' list. So, DOW 1,000,000, perhaps. He's looking at huge, monster deflation starting in 2035. Until then, this may be nothing but up for stocks, in the big picture. This bull may only be 1% started! Can you say $5,000 for a loaf of bread?

I think the middle one applies, too, if you know the enemy, but not yourself.