9/8 1:00

Close but no cigar.
The half-hour close was 1101.75  No action triggered.  I count today's rally as an expanded flat for DJI and zigzag for everyone else.

The Battle of the Idiots
We have idiots in high places.  So what? We've always had idiots in high places.  Yeah, but now we've given them guns.  So what, you say?  They've always had guns.  Yeah, but now they have really big guns that can explode in their faces and hurt everybody.  So you buy gold.
Sovereign debt, stimulus debt, bailout debt, Fed balance sheet debt.  Debt, debt, debt.
Spam, spam, spam.  Gold has advanced from $250 an ounce in 2001 to 1265 at the high in June.  That is 5 x it's low.  What price spam?  Spam, er gold, has been hawked on the airwaves to the point that even guttersnipes are trading in Ripple bottles for the stuff.  Sentiment polls show 95% bullish and higher.  That's my cup of tea.  I'm used to being called a moron.  I've been called wrong so many times that I'm addicted to it.  I get off on it.  Besides, it's a lot cheaper than renting the lady in leather for a couple of hours.
I posted a sentiment index for precious metals last night, the metallic I1 so to speak.  I've got a bit of history for it, just a chart so your eyes don't glaze over.  Basically, it does 2 things.  It picks the tops and it picks the bottoms.  Pick a top, pick a bottom, pick a top, pick a bottom.  How boring.  I'm going to start showing charts that screw up tops and pick bottoms, then pick tops and screw up bottoms, just to keep myself sane.  Impossible, you say?  Well, my mother used to say that I was sane whenever I would visit her.  And she couldn't be too crazy because they keep those characters on the back wards.