The market took a breather today after a really great 4-day run up. The DJIA is down 120.79 but up a total of 120 for the week, closing at 12,822.
Gold closed up a smidge today to $1584 per oz. Silver also went up a bit, to $27.33 per oz. Checking out Jesse’s Cafe Americain, one can see quite clearly that neither “precious metal” is anywhere near its highs – any of them. They both appear to be desperately, but unsuccessfully, trying to dig themselves out of their little holes.
We just had a phone conversation with a friend who is way smarter than we are, so she’s buying more silver, since in her (advisor-moderated or advertising-moderated) opinion is poised to pop. We advised her to look at Jesse’s blog, but she blew us off. Okay. Fine.
Meanwhile, crude oil was down to $91.56 per bbl. Other financial geniuses of our acquaintance are convinced that oil is hitting new highs as its price as well as pump prices are cunningly manipulated by evil … trolls? To us, the price movements look pretty random, but what do we know?
We simply can’t understand why people prefer to have opinions without looking at the evidence.
And now, ta-da! for the Model Portfolio Index, the MPI. Notice that we are now up almost 15% for the year. Not too shabby. Also, even though the MPI is down, it has, once again done much better than the DJIA.