Don’t Bet on Support Holding

Serge Berger is the head trader and investment strategist for The Steady Trader
. Sign up for his free weekly newsletter . It ended up being a September to
remember. The S&P 500 fell 7.2% for the month and is down 14% since June, and
the Nasdaq lost 6.4% for the month. For both indices the quarter was the worst
since the quarter ended December 2008.

Gold Price Per Ounce Spot Gold price per Gram Todays Silver price per ounce Spot silver Prices; Gold and Silver Prices DJIA Review

The safe haven appeal of precious metals gold and silver pushed the two
precious metals into positive territory during the initial half of the last
trading session. Contract gold and silver were both posting values in the green
at this point, as were values for spot gold per gram and spot silver per ounce.
Investors continued to hold worries relevant to the debt default potentials in
Greece as most believe that Greece will be challenged to resolve its financial
issues. Many feel that default is a real possibility. The ramifications of the
default would negatively affect markets globally and the threat of this
happening is pushing negatively on market indicators currently. The safe haven
aspects of precious metal gold and silver may benefit as the resolution process
continues to unfold. As the last trading session came to a close in the U.S.,
the primary index composites all closed below break-even. The DJIA finished the
day lower by 259.74 points to close out at 10,653.64. Both precious metals gold
and silver closed out the last trading session in the green. Gold for December
delivery closed out higher by 2.18 percent at 1657.70 per troy ounce. Contract
Silver for December delivery closed out the last session higher by 2.37 percent
at 30.80 per troy ounce. After last session close and prior to todays opening
bell, spot gold and spot silver prices continued to move in positive territory.
Spot gold price per gram was higher by 1.37 at 53.47 and spot silver price per
ounce was higher by .72 at 30.76 at this point. Camillo Zucari

Maybe the Gold Price is Bracing Up to Run to $1,725, but "to" that Mark Without "thru" that Mark Proves Nothing

Gold Price Close Today : 1655.00 Change : 35.60 or 2.2% Silver Price Close
Today : 30.750 Change : 0.709 or 2.4% Gold Silver Ratio Today : 53.82 Change :
-0.085 or -0.2% Silver Gold Ratio Today : 0.01858 Change : 0.000029 or 0.2%
Platinum Price Close Today : 1512.00 Change : -15.00 or -1.0% Palladium Price
Close Today : 591.00 Change : -20.00 or -3.3% S&P 500 : 1,099.23 Change : -32.19
or -2.8% Dow In GOLD$ : $133.09 Change : $ (6.21) or -4.5% Dow in GOLD oz :
6.438 Change : -0.300 or -4.5% Dow in SILVER oz : 346.51 Change : -16.77 or
-4.6% Dow Industrial : 10,655.30 Change : -258.08 or -2.4% US Dollar Index :
78.57 Change : 0.544 or 0.7% The body of Friday's commentary contained an error
that was corrected elsewhere. The Dow did not close dead on 11,000 but down
240.60 (2.16%) at 10,913.38. The data error changeth not the conclusions. Sorry,
I was racing to get up to Nashville to catch a plane for a wedding in Wichita.
Great wedding, but awfully fast trip. And that Kansas is NOTHING like Tennessee.
I looked around and I said to myself, "Dorothy, you're not in Tennessee
anymore." Y'all also need to understand something: I am not a fortune-teller. I
don't even believe in fortune-telling, astrology, crystal-balls, and most market
prognostication systems, or leastways, I'm too dumb or lazy to understand them.
Fool that I am, I only know a few things, chief of which is "A Train Will Run
Till It Reaches The Station." First principle of investing is, Always align your
investments with the primary trend. That's the trend that runs 15 - 20 years,
generally up or down ( GOLD and SILVER , 1960-1980; stocks 1982 - 2000; GOLD and
SILVER , 2001 - ?). You get onto that primary trend train as soon as you hear
that whistle blowing, and get off it when it reaches the station. All the
lurching, bumps, and stops inbetween don't amount to a hill of beans to a man
riding to the last station. Therefore, if y'all are expecting Cosmic Revelations
about what will for sure take place tomorrow, better betake yourselves somewhere
you won't be disappointed. I'm just riding this train until we reach the
Sixteen-to-One Station, where I get off, and pointing out the scenery while we
ride. So many of y'all asked me about the performance comparison, I'm giving it
to you again, as of today. Figure in parenthesis is the gain or loss calculated
from 3 October 2011. 3 October 11 4 Oct 10 3 Oct 06 Dow 10,655.3 10,751.27
(-0.9%) 11,727.34 (-10.1%) Gold $1,655.00 $1,315.40 (+20.5%) $576.3 (+65%)
Silver $30.75 $22.013 (+28.4%) $10.955 (+64.4%) Now y'all have to be careful
with comparisons like this, because the period chosen makes all the difference
in the world, but this is sort of entertaining to thrust under the nose of those
who insist stocks aren't in a bear market or metals are a terrible investment.
Stocks followed through downside today. Dow lost 258.08 or 2.36% and landed at
10,655.30. S&P500 lost even more, 2.85% (32.19) to end at 1,099.23 -- OWCH! --
below the psychologically sensitive 1,200 level. Stocks -- the Grand Theft Auto
of retirement expectations. I don't reckon the panic in Europe is over right
yet, despite all the assurances from the Eurocrats, commentators, etc. Stocks
sure showed that, and so did the Euro, down a colossal 1.82% to 1.3172. Back
when the Euro was lolling around 1.3900 folks were laughing about me expecting
to see the Euro at 1.3000. Now that's not nearly as funny as it was, or my
awaiting it's trip to 1.2000. Watch for it. It might delay, but it will come.
Japanese yen closed at 130.57c/Y100 (Y76.58/$1), bouncing up off the triangle
line and its 20 and 50 DMAs. Doesn't want to give up, and may not. US DOLLAR
INDEX rose a gargantuan 103.1 basis points (1.31%) from where 'twas trading
Friday, to 79.603. Will reach 81.25 at least, creating bad suction on stocks,
silver, and gold. What's wrong with a man so suspicious he watches the GOLD
PRICE rise $35.60 and close at $1,655 on Comex, then rise another ten bucks in
the aftermarket to $1,664.20 and still refuses to jubilate? He might be
remembering last week when the GOLD PRICE ran out of gas and failed at $1,675,
especially when he sees today's high at $1,672. Maybe he's just tired and
hungry, maybe he's missing something, but he doesn't see any cause for gloating
short of the GOLD PRICE clearing $1,725 and advancing like a hog running for
supper. This back and forth over the same territory -- $1,675 to $1,575 --
doesn't build anything and it burns up buying power. Okay, maybe gold is bracing
up to run to $1,725, but "to" that mark without "thru" that mark proves nothing.
A downtrend in force remains in force until broken, and it's not near breaking
yet. Silver's no different. It rose 70.9c today to close Comex at 3075, but
remains trapped beneath 3100c (high today came at 3139c). Both the SILVER and
GOLD charts appear to be tracing out pennants or flags, and the rule says,
"Flags always fly at half-mast." That is, they form about half-way through a
move. If those are flags, then they're storm flags and y'all better screw some
plywood over your windows, put your lawn chairs in the garage, and get inside.
The POINT: Silver and gold remain in a long term primary uptrend that will last
another 3-1/2 to 10 years, but they are presently undergoing a major correction
that hasn't ended yet. Y'all will appreciate this tid-bit of historical irony.
On 3 October 1776 the Continental Congress borrowed $5 million to halt the rapid
depreciation of paper money in the colonies. If anybody here thinks that worked,
call me about some great beach front property in Kansas. Argentum et aurum
comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The
Moneychanger The-MoneyChanger.com © 2011, The Moneychanger. May not be
republished in any form, including electronically, without our express
permission. To avoid confusion, please remember that the comments above have a
very short time horizon. Always invest with the primary trend. Gold's primary
trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1
gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under
2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary
trend down; real estate in a bubble, primary trend way down. Whenever I write
"Stay out of stocks" readers inevitably ask, "Do you mean precious metals mining
stocks, too?" No, I don't. WARNING AND DISCLAIMER. Be advised and warned: Do NOT
use these commentaries to trade futures contracts. I don't intend them for that
or write them with that short term trading outlook. I write them for long-term
investors in physical metals. Take them as entertainment, but not as a timing
service for futures. NOR do I recommend investing in gold or silver Exchange
Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or
another may go up in smoke. Unless you can breathe smoke, stay away. Call me
paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading
futures options or other leveraged paper gold and silver products. These are not
for the inexperienced. NOR do I recommend buying gold and silver on margin or
with debt. What DO I recommend? Physical gold and silver coins and bars in your
own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.

5 Reasons Why This Is the Most Important Apple Event Ever

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tdp2664 InvestorPlace The world is on the edge of its seat again as we approach yet another landmark Apple ( NASDAQ : AAPL ) launch. It's a little bit later than the previous summer splashes reserved for the latest iPhone model — the iPhone 5 — but has just as much fanfare. And for several reasons, Tuesday’s Apple event could be the most important in the history of the iPhone since the first big reveal in 2007. One easily could argue that Apple has a lot more riding on this launch than ever before. Here's what's at stake for Apple on Tuesday: Can Cook Match the Magic of Jobs? With the departure of iconic executive and founder Steve Jobs, this is the first true test for new CEO Tim Cook. Yes, Jobs' health problems have persisted for some time, and you can bet Cook knows Apple like the back of his hand by now. But Apple is part gadget maker and part cultural force. Don't fool yourself into thinking the gadgets will speak for themselves — Tim Cook needs to step up and be the new public face of Apple. Can Apple Go Low-Price and Protect Its Brand? There are rumors that the iPhone might go populist for the first time ever — with an "entry-level" model priced at $99. The so-called "iPhone 4S" will have the same appearance but lower-priced internal parts — the biggest money-saver being just 8GB of onboard memory , if you believe the rumors. Will consumers who have held off on an iPhone sign up for a lower-priced model with less flash? If they do, it could be a huge windfall as Apple exerts its dominance at both the high end and low end of the market. But if it flops, more than dismal sales are on the line. Apple always has prided itself on a fantastic user experience — and if consumers start to get the impression cost is trumping quality, that's a dangerous development.

Kibali mine in Congo fully running by 2014 – Randgold

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gol2664 Negocioenlinea Kibali mine in Congo fully running by 2014 – Randgold Reuters – 1 hour ago KINSHASA Oct 3 (Reuters) – Randgold Resources and Anglogold Ashanti's Kibali joint venture in northeastern Congo will be fully operational by the beginning of 2014, Randgold's chief executive said …

Gold Buying in China “Strong as an Ox”

While last months sell-off in gold may have rattled many investors, that has
not been the case in China, at least according to Scotia Mocatta. In a note to
clients on Monday, the firm discussed the yellow metals weakness and the strong
level of dip-buying that remains in two key emerging markets. Over the past 2
weeks commodities, including gold, have been in the crusher, although to be fair
losses in non USD currencies have been significantly less than those that have
been suffered at the hands of the strong USD, analysts at Scotia Mocatta wrote.

Groupon IPO at an 88% Discount?

Groupon looks like the incredibly shrinking IPO. Just six months ago, its
valuation was roughly $25 billion. Now? Well, according to a Bloomberg article,
it could be as low as $3 billion . Keep in mind that last December, Google
(NASDAQ: GOOG ) offered $6 billion for the daily-deals site. So why the
implosion? For the most part, it is yet another classic case of the boom-bust
nature of the tech world. Let's face it, only a few companies are able to
become long-term winners, such as Microsoft (NASDAQ: MSFT ), Oracle (NASDAQ:
ORCL ) and Apple (NASDAQ: AAPL ). The rest either sell out or go bust. In the
case of Groupon, it certainly was targeting a huge market opportunity. Local
merchants always are trying to find ways to get customers. So yes, they will pay
a premium for this. The problem is the Groupon model is flawed. As noted in a
recent piece in The New York Times , many merchants are disappointed with the
results . Basically, the deals often draw customers who have little loyalty. So
merchants are learning a valuable lesson that is, not all customers are good.
In fact, enough bad customers can kill a business. Interestingly enough, it
looks like Facebook has taken note of all this. The company recently closed down
its daily-deals business but continues to focus on local merchants . To this
end, it has teamed up with the Chamber of Commerce and National Federation of
Independent Business to provide support and training to help business owners
with social marketing. It looks like an approach that should get traction. As
for Groupon, there certainly are other reasons for its discounted valuation. The
company had to restate its revenues , resulting in a number less than half of
its original report, and the company continues to face extreme competitive
pressures. And the company is losing hundreds of millions of dollars as the cost
of acquiring customers escalates. Amid all this, investors likely will focus on
the business model. And for the most part, it is hard to believe it can be
sustainable for the long haul. Tom Taulli is the author of "All About Short
Selling" and "All About Commodities." You can also find him at Twitter
account @ttaulli. He does not own a position in any of the stocks named here.