the highs of 14 and 15 for gdx are above 27 if the market can get above 28 then all of 14 and 15 become a very large base. the fed can be found in hotel california. they are trapped by their own design. kuroda opted to do nothing last night. and i think no matter what happens w/the brexit it will be gold friendly. zirp and nirp are causing a variety of problems. pension funds will not be able to meet their obligations . banks , w/little profits, have not been enticed to lend out the qe money ball bernake gave them. db is still searching for a bottom and appears to be in serious trouble, they were tossed from the club to boot, making their borrowing costs higher.
gone are the 3am bankster bombing runs . the dubai quattro and the shanghai exchanges are laying the infrastructure for the new bull market in gold . it will take about a year from now before the foundation is laid and fully used. jim rogers and martin armstrong continue to wait for gold below 1k. scarring the neophytes w/their calls. but real investors have entered the sector and have become vocal. the likes of soros and druckenmiller. both have become billionaires by their prowess.
one of the explorers i like got bombed this am contemplating stepping in, the problem is i am not sure what the consequences of the ruling will be. it has been my deliberation all morning. so, i wrote this piece to put my mind in a different space,
dharma