first majestic silver

We are Living in Interesting Times

May 19, 2005

Some charts are breaking down and others are breaking up

1. Breaking Down

Central Fund of Canada now trading at a discount to NAV


2. Breaking up

Dollar weighted SPX tentatively peeking up through falling trendline




Latest move on USD vs Oil has retraced more than 50% of previous fall

In context of JPM breaking down, Banking Index breaking up relative to Industrials is very confusing.

What to make of all this?

No sensible idea


In 1792 the U.S. Congress adopted a bimetallic standard (gold and silver) for the new nation's currency - with gold valued at $19.30 per troy ounce
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