Re: The Casey graph and the fact that Dow earnings are negative for the first time in history ...

You all make good points. It _is_ really important, in that SPs come down when earnings are lower, and indeed people will be looking to raise cash.

On the other hand ...

The graph is misleading because the scale is linear, but should be logarithmic, in that growth is xx percent per year, is therefore geometric, and is only properly shown on a log vertical scale. The drama is still there though.

On the positive side, in the 30's gold stocks were one of the few stock sectors that rose.

KXL doesn't rise much when gold goes up (if it rises at all), and doesn't reflect the general market all that well either. It the story in the cores.

KXL had to go sideways a lot to map out the system. The next NR might have a little depth, and will have surface from entirely new systems. I figure the market can smell some good news. If some good news has leaked out, even better.