Market update, and the last we'll ever hear of Tye Burt

It's all pretty inconsequential to me, since the Canadian markets seem to be closed today.

But silver spot is flirting with $28, and the S&P 500 is threatening to break 1400.

Actually, the S&P is hitting a wall at 1400; maybe that's good? Maybe everyone wants to sell on this higher high, thinking we're going to fall back down into the rising channel? That's good, because it gets rid of sellers, right? Once you get rid of sellers, the market can go up more, right?

Similarly, the Q is flirting with 3000.

Those of you who believe in the "round numbers" theory (that they're especially psychologically significant to the market) should be bullish as all getout right now.

Anyway... here's an interesting chart for Tye Burt:

It shows the chart action of all the big boys in mining since the great liquidity-collapse superpanic of October 2008.

Remember that time? I don't, cos I still owned shitty BMO mutual funds; but the old farts tell me that it was when everyone thought the miners were worthless forever. Silver collapsed, the junior miners traded for less than cash, the markets seized up as major financial institutions teetered on the precipice, and Obama & McCain were threatened with "tanks on the streets" unless they agreed to give a trillion bucks to the banks as a reward for being buttfuck morons.

OK? The market was incredibly negative back then. People puked everything. It was the end of the world.

Given how grossly negative the market was back then, given how much extreme selling pressure was sitting like a jackboot on the throat of these big miners, even ceteris paribus (i.e. let's assume gold hasn't fucking doubled in fucking price for fucking fuck's sake since October 2008), it should be expected that today your stock price should be higher.

Not lower, Tye!

I venture that that is why you got your ass fired, Tye. By losing shareholder value relative to a full-on liquidity crunch.

Fuck, even Newmont and Barrick are 60%-80% higher than they were at the height of the 2008 crash.

I hereby invoke the Century Mining rule: this is now the last post this blog will ever publish on the subject of Tye Burt.