Silver at another decisive test of uptrend line

Silver is today testing it's powerful uptrend line that has been intact since August 23rd. It has hit it five different times, going on 6. Let's see if it hold. A failure to hold will mean a relatively strong move to the downside in the next few days

The moto of Western economies today

Gold in 1980 vs. today

Pink lines = today's bull market
Green lines = 1970's bull market

If the close resemblance continues, a major blast off could be fast approaching

An attempt at creating a photogenic homemade meal

Pan fried pork chop, toasted potatoes with chipotle sauce, sweet black eyes peas with onions, and salad.

Jim Sinclair quote

Jim Sinclair’s Commentary
You know what respect I have for Martin Armstrong as a broad market trend timer.
He is simply the best in modern times. Yes, he is a tad self-destructive but that does not detract from his genius. I have known MartinArmstrong since the late 60s and have yet to see him seriously wrong.

In Martin Armstrong’s last writing he said the following about gold. His history of accuracy demands that we all listen carefully to him, myself included.

“I have given a number for gold $5,000 that is very conservative. If we take U.S. gold reserves at 252 million ounces and we divide that amount into the national debt of 14 trillion that yields a staggering amount of $53,639 per ounce. Even taking the world official gold reserves divided into the US debt of 14 trillion we still get $15,873 per ounce.”

This makes my eight year price objective of $1,650 in January of 2011 look pitifully on the low side. Assuming Armstrong is right (as he has been for 40 years), the shorts of gold and gold shares are going to be destroyed.

Watch crude

Crude looks like it's ready to make another ATTEMPT at breaking through its key overhead resistance which stands now at the $90. Any convincing break above this will signal new highs in gas and oil prices