The Seals have gotten some good press recently. A little research suggests there is much to learn from their culture and actions.
To get started, here are a few things worth sharing.
The first is a video that presents the Navy Seal Creed: A Warrior's Creed.
Here is the text.
“In times of war or uncertainty there is a special breed of warrior ready to answer our Nation’s call. A common man with uncommon desire to succeed. Forged by adversity, he stands alongside America’s finest special operations forces to serve his country, the American people, and protect their way of life.
I am that man.
My Trident is a symbol of honor and heritage. Bestowed upon me by the heroes that have gone before, it embodies the trust of those I have sworn to protect. By wearing the Trident I accept the responsibility of my chosen profession and way of life. It is a privilege that I must earn every day.
My loyalty to Country and Team is beyond reproach. I humbly serve as a guardian to my fellow Americans always ready to defend those who are unable to defend themselves. I do not advertise the nature of my work, nor seek recognition for my actions. I voluntarily accept the inherent hazards of my profession, placing the welfare and security of others before my own.
I serve with honor on and off the battlefield. The ability to control my emotions and my actions, regardless of circumstance, sets me apart from other men. Uncompromising integrity is my standard. My character and honor are steadfast. My word is my bond.
We expect to lead and be led. In the absence of orders I will take charge, lead my teammates and accomplish the mission. I lead by example in all situations.
I will never quit. I persevere and thrive on adversity. My Nation expects me to be physically harder and mentally stronger than my enemies. If knocked down, I will get back up, every time. I will draw on every remaining ounce of strength to protect my teammates and to accomplish our mission. I am never out of the fight.
We demand discipline. We expect innovation. The lives of my teammates and the success of our mission depend on me – my technical skill, tactical proficiency, and attention to detail. My training is never complete.
We train for war and fight to win. I stand ready to bring the full spectrum of combat power to bear in order to achieve my mission and the goals established by my country. The execution of my duties will be swift and violent when required yet guided by the very principles that I serve to defend.Tradition. Brave men have fought and died building the proud tradition and feared reputation that I am bound to uphold. In the worst of conditions, the legacy of my teammates steadies my resolve and silently guides my every deed.
I will not fail.”
Next is a link to a gallery of photos showing Navy Seals in action.
The third is a link to a book Amazon is currently giving away in Kindle format. It is called "Team Secrets of the Navy Seals".
Finally, here is a link to the Seal's Code, which is worth a look.
Has Silver Found Support After Its 27% Fall?
David Stendahl called me about Silver last week. A quick glance at the chart showed a major price drop.
How major? Well, after the big move up. Silver dropped over 27% last week, the most since 1975.
Technical traders will note that Silver was running into resistance at the 48.12 Fibonacci level. A week later, Silver is now resting at the 34.66 ... which is also a Fibonacci support level. Stendahl points out that the Value Chart indicator has formed a pivot bottom suggesting that Silver is ready to find support. Traders will likely keep a keen eye on whether Silver can stay above the 34.66 level … otherwise, the selloff continues.
In This Case, Technical Analysis Doesn't Tell the Whole Story.
According to MarketWatch, retail buyers may have stayed invested in silver long after most hedge funds and other large investors had left.
Data from the U.S. Commodity Futures Trading Commission shows money managers’ bets that silver prices would go higher declined starting mid- February, when silver prices started to climb in earnest.
The trend suggests the so-called ’smart money,’ the large managed funds that report to the CFTC, had started to back away from silver and "retail investors picked up the slack,” said Tom Pawlicki, a precious metals analyst with MF Global in Chicago.
The CME Group, which operates the Nymex, had raised its margin requirement for speculative traders twice last week due to high volatility. These investors must now put up $14,513, per contract, for a day trade, and a further $10,750, per contract, to hold that contract overnight. Both requirements are up 24% from a week ago. For investors holding hundreds of contracts, that's a difference of hundreds of thousands of dollars.
Silver is much less costly than gold, but gold's margin requirements are less than half of silver's. The higher margins are a deterrent to new investors looking to enter the market.
Apparently, to manage its exposure during the parabolic move higher (and the shift from 'Smart' to 'Dumb' money), MF Global (which is one of the big Futures trading houses) raised its margin requirements significantly higher than the CME did. MF Global, run by former Goldman CEO Jon Corzine, hiked its silver margin to $25,397. Consequently, MF Global's margin requirement is 175% of the CME's requirement. The result ... a rush to exit.
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