Friday, 7/19, Market WrapUp (Capitulation, or precious metals, water, oil & gas, and defense?)

Financial Sense Online ^ | 7/19/2002 | James J. Puplava

[Wyatt's Torch]

Thanks. Here's another reason why gold has been increasing. H.6 Money Stock Measure - July 18, 2002 The Fed has been increasing M1 quite dramatically over the last few months. The Fed is intentionally devaluing the dollar. It is necessary to support (and reflate) the price level.

[stalin]

Good question. I don't know. If you find out let me know. OK ?

[BlackJack]

Thanks for the link....impressive. I just came across this interview:
http://www.financialsense.com/transcriptions/Sinclair.htm

[rohry]

Mr. Jeeves, thanks for your input.

I thought that I'd dredge up this little gem from Skip Ripley, you might want to find out what kind of bug he is going to eat:

Posted by Skip Ripley to Mr. Jeeves
On News/Activism Jun 25 6:45 PM #5 of 149

"3,000? Feeling a little pessimistic? If the Dow goes below its 9/21/01 lows I'll eat a bug.
And I don't mean a gold bug..."

[Tauzero]

Little Billy ran into the kitchen with his new dog, tracking mud and dirt everywhere. Horrified, Billy's angry mother told him to get the dog out of the house -- and to get rid of it.

"But Mom!" Billy protested. "I paid Jimmy $10000 dollars for him!"

"Ten thousand dollars?! Nonsense. Where on earth did you you get $10000?!"

"Well," Billy said, "I didn't have the cash so I traded Jimmy two $5000 turtles."

[Tauzero]

angry client: "You remember that stock you recommended? Well, it's DOWN."

broker: "Yes, that's true. But look on the bright side."

client: "Bright side? What bright side?"

broker: "Well, I made money, my firm made money -- two out of three isn't bad."

[Tauzero]

Hilarious but true:

The firm for which my father-in-law works recently had a party for clients at a MLB game, luxury accomodations. To this event dad-in-law wore his "Titanic Crew" cap from the Museum of Science and Industry in Chicago. The looks on the faces of a number of the firm's clients were absolutely priceless! Most frequent reaction: saucer-eyes.

(Dad-in-law's clients are all even or better for the year though. ;)

[Washington-Husky]

I've heard of "unrealistic valuations" before, but this is ridiculous! lol

[Wyatt's Torch]

Thanks for the link. I'll read it when I have a chance. Here are some charts that you might find interesting. I would like to get them overlayed on one another.

Adjusted Monetary Base

Weekly Gold Chart

You should see a very similar pattern between the two starting 9-11.

FReegards

[FlyVet]

The Art Bell Radio Show

07/19/02 - Fri/Sat

Host: George Noory

Guest: Robert R. Prechter Jr.

Robert Prechter is President of Elliott Wave International, is a forecasting firm servicing institutional and private investors around the world, providing long-term as well as intraday analysis on stock markets, currencies, interest rates, commodities, and social trends. Every month, he writes thoughtful market commentary in The Elliott Wave Theorist. Prechter attended Yale University on a full scholarship and graduated in 1971 with a degree in psychology. He began his career as a Technical Market Specialist with the Merrill Lynch Market Analysis Department in New York City.

I only caught the tail end of it, but Prechter didn't sound real positive about the market.

What is up when the Elliot Wave pre-empts crop circles and the Loch Ness Monster?

Hmmmmmmmmmm, hold on to your hats....

[Mr. Jeeves]

Thanks for the reminder, rohry. If I only had a dollar for every time someone has insisted that my predictions were too "pessimistic"...