Quote of the Day
Monday, March 12, 2012
March 12, 2012 -- I came across some of my old metaphysics books, and I was enthralled. Books by Emmet Fox and Florence Shinn deal with how to survive in a crazy and scary world. If you have any worries at all, may I suggest that you buy any of the books by these two famous authors. They were writing during the Great Depression, so you may surmise that they were writing for people who were dealing with severe problems.
I have been writing my "stuff" for about 54 years, all the while never advertising or sending out promo mailers. Many people in this line of work ask me how in the world I stay in business. I tell them, "I really don't know, I write about what's on my mind, and most subscribers evidently like it." There are more things on this earth than money and profits (or losses), and one must develop a philosophy of life. The reason I say this is because sooner or later everyone runs into seemingly "impossible" trouble, and one must have a way of surviving those troubles until the sun also rises.
One method of gaining confidence is to turn over your troubles to the good Lord. My dear old dad lived and took us with him safely all during the Depression. Dad's favorite Psalm was Psalm 23. The first two lines says it all -- "The Lord is my shepherd, I SHALL NOT WANT." I shall not want is the KEY. If you can firmly and sincerely believe that, you will never go hungry and never search vainly for a place to sleep.
This may be a wordy site, but for some it may be the most important site that they'll ever read. Frankly I wish that I could have written this fifty years ago. They say that you can't teach old dogs new tricks, but I'm an "old dog" and I’m still learning.
As I'm writing, the Dow is down 25 points and is still below 13,000. April gold is down 12 and is again below 1700. How long this is fated to continue I don't know, but it is certainly an exercise in patience.
When items stay in one area for extended period of time, changes are usually significant. We wait probably impatiently for the changes.
TODAY'S MARKET ACTION:
My PTI was down 1 at 6390. The moving average at 6352, so my PTI is bullish by 38.
The Dow was up 37.69 to 12959.71.
Transports were down 17.65 to 5144.28.
Utilities were up 4.97 to 459.92.
NASDAQ was down 4.68 to 2983.66.
S&P 500 was up 0.22 to 1371.09.
There were 1385 advances and 1635 declines on the NYSE.
There were 117 new highs and 3 new lows.
April light crude was down 1.06 to 106.34.
Total Volume on the NYSE and associated exchanges was 3.0 bn.
Bonds: Yield on the 10 year T-note was 2.03. Yield on the long T-bond was 3.16. Yield of the 91 day T-bill was 0.081%.
Dollar Index was down 0.17 at 79.86. Euro was up 0.42 at 131.49. Yen was up 0.41 at 121.56. Currency Prices as of 1 PM Pacific Time.
April gold was down 12.80 to 1699.80. May silver was down 0.79 to 33.41.
My Most Active Stocks Index was down 1 at 295.
The Big Money Breadth Index was up 10 at 1036.
GDX was down 0.87 at 52.37.
HUI was down 8.85 to 501.06.
CRB Commodity Index was down 1.62 at 315.99.
The VIX down 1.47 to 15.64.
Permanent Portfolio Fund (PRPFX) was up 0.09 at 48.91 (previous day closing). YTD Return: 6.12%.
Late Notes -- No change. We wait, we wait, Dow scratching at 13,000, Gold reaching for 1800. Back to watching the futures tonight.