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Monthly Digger - November 2010

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While NG rests my URRE has been performing and HL is beginning to move again with spot silver.


Might start getting ready here for another move on up. Ageka has about the 6th to the end of this correction, sounds good enough to me. Norcini points out that spot gold is near all time highs against world currencies.


Armstrong writes again here.....Martin

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we have come a long ways from the psychology of 29 in this country. there are no longer statesman(few any way)there are only politicians. the expedient thing to do is qe. the western world is dancing to that tune. gold is purchased as a store of value. to protect ones purchasing power.

if one takes a look @edwards and magee the examples they use for h&s patterns span months. and yet we have a painted h&s looking top in the gold market. needless to say, i have my doubts about the validity of the pattern. until new highs are made or we take out 1315 we are in a trading range. in bull markets, the expectation is for the tr to be broken to the upside. i am in that camp. december is iffy to me. meaning the range will be continued, but january is a bullish story. i am fully positioned. and patiently waiting for the bullish resolution.

the gdxj/gdx ratio is favoring the more speculative miners(gdxj) so speculation is dominating. and silver is gaining more than gold, a confirmation of that fact. speculation can continue for awhile longer.

if the broads have topped, and start down in earnest , will that affect gold/miners/silver. in my experience its not a good idea to bet against declining broad market. that sucking sound will bring everything along w/it. unless this time is different!? now a wise speculation!

bonds are an interesting subject. they offer no to little return and the debts and deficits keep mounting. @some point in the not too distant future i expect to start the rising rate cycle. rising rates are gold bullish. its an admission by govt that inflation is higher than they are paying bond holders(the suckers in the game). i will start to buy bonds when and only when they offer juicy returns on money. in 84 i tried to buy munis into the lows and i couldnt find a dealer that had any inventory. those folks have been getting 15% on their money for almost 30years now+appreciation of the bond. not bad for doing nothing!

most of the time markets do nothing. this phase should be short lived here. make no mistake, i think this pause will result in another run. i am not happy about it , but the world is printing away. the party of the deficits and the mcmansion life style will be paid to the piper.

i added fvitf and ussif on weakness. and am done for now


i have the 8th as a significant date

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It's that time again. December and 2010 is almost over. The new December thread has begun. Thanks again for all the input and insight.

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