Gold To Surge 1000% By Next Friday

Sorry, just thought I'd borrow a headline from everyone's favorite site, hoping to see it impact my Search Engine Optimization.

OK...but, seriously. I only thought of that because I had checked KWN this morning and saw the following link from KWN. As mentioned here previously, the only two technical analysts I've ever followed are Louise Yamada and Tom Fitzpatrick. Luckily, KWN has access to them and is able to share their current ideas with us. For that, we should be grateful. Please read this when you have a moment: http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/3/14_Gold_To_Surge_Over_%24460_%26_Smash_Through_Key_%242%2C000_Level.html

To the business at hand. It seems like it's taking more and more time every day to print off, mark up and scan these charts. Now it's late morning and I'm just getting started typing. In order to get this stuff posted ASAP, I'll dispense with much of the extra commentary for today.

First of all, you had to know that we were in for a wild ride today when we saw this last evening. Silver doesn't get raided at 9:25 pm EDT for no reason. This signal proved accurate when we saw the further selling this morning. Fortunately, physical demand has proven to be too tough to overcome and FUBMs have developed.

Now, first things first. Our main goal for today is to get back above and close above $1585 in gold. So far, so good as we are hanging in there near $1587 as I type. The similarities to the pattern from mid-Dec to mid-Jan are so striking that it's impossible to ignore. Therefore, I am still expecting a rally over the next couple of days/weeks. Back to the red trendline on these charts. Is that tradable? Yes. But don't get too excited. Longer term, none of it matters unless the trendlines are broken to the UPside. Patience is required here. Be right and sit tight.

Moving on. I've been watching crude very closely ever since it fell through $93. It dropped into what looked like a buy zone under $90 but now is having significant trouble getting back above $93. If it fails here and falls back under $92, I'll likely get another chance to buy some (or some UCO) near $90.

We keep talking about the miners following the "Calvin" bounce off of the 61.8 Fib line last week. Though things have come down so sharply that it's probably OK to begin nibbling and building a long-term position, we are nowhere near "calling a bottom" in the sector.

It's springtime in the Northern Hemisphere so I'm getting the itch to buy some grains (or the DAG). I did not do anything back near Valentine's Day after being counseled against it by our pal, Art Lomax. But as we head into planting season, I probably won't be able to help myself. I'll be watching corn for the reasons outlined on the charts below and I'll probably look to grab some DAG if it dips below $10.

And, finally, there's this. When we first started watching this chart, I recall suggesting that it could trade all the way down to par (100). All of a sudden, that sure looks like a distinct possibility/probability. And at par, you're likely to see TMOAC (The Mother of All Calvins). It should be very interesting to watch.

Have a great day!

TF

p.s. Our server company is going to take the site offline for about an hour overnight (U.S.), from 4:00 a.m. EDT Friday to around 5:00 a.m. EDT. They will be running some updates in an attempt to fix the outage problems we've been experiencing. Thank you for your patience.

118 Comments

codesurfer's picture

How Clairvoyant of you

May the Phyz be with you

ArtL's picture

second

second?

Istack's picture

Time to back up the truck!

that is one attention grabbing headline!

sensational!

btw: The Caterpillar 797B stands more than three storeys high and has a hauling capacity of 400 tons. Each tire costs approximately $42,500.  Total cost is approximately $5,000,000

Irene's picture

No comments...

Hi all,

I haven't been commenting for a while due to an extended (and ongoing) period of personal trials, capped last week by the funeral of my 27-year old nephew.  Like Puck, life sometimes demands a reassessment.

Rather than getting all worked up about the day to day distractions being created to unnerve and ruin the good people of this world, realize them for what they are.  Set your eyes higher.  Remember, you've seen this before on a smaller scale.  Does anyone recall the miracle called Enron?  It was supposed to have broken all the laws of economics.  For years, unless you were invested in Enron you were considered a fool.  Economics and business professors across this country could no longer defend simple market axioms that had worked for centuries because some smart-ass youngster would bring up Enron.  This period is not just Enron on steroids, it is Enron across the board and around the world.

We are talking black holes, people.  Total corruption of every liberal institution that has taken hundreds and hundreds of years to develop.  They'll be gone in the blink of an eye, replaced by God knows what.

None of this is pleasant, but take the time to enjoy your life while also preparing for a very uncertain future.  Be happy that Turd has given us all a forum to parlez.

P.S.  I'll be going to Jim Sinclair's meeting in NYC next week.  He's offered to take questions.  If anybody wants to ask something, send me a message and I'll try to get an answer.  Nothing too long-winded please!

¤'s picture

1,000%

I'm pretty sure traffic to this site would blow-up the servers if that happened.

We can only hope ;-)

 

Don't let this be your computer!

The Doc's picture

JOINING US NOW....THE

JOINING US NOW....THE LEGENDARY....WHO ABSOLUTELY STUNNED US AT KWN BY PREDICTING $50,000 GOLD!!!!

MAKE SURE YOU BUY OUR SPONSOR ASHANTI GOLD!

Turd, you forgot the boob pics

Silver Alert's picture

KWN

Seems to be stunned at least once a day. Or shocked.

oh, and 7th.

Mickey's picture

sooner or later the projections will come true

problem is I do not buy green bananas

sengfarmer's picture

top ten :)

The bottom IS in!!

ReachWest's picture

Cough - Splatter.

Got me - choked on my sip of coffee when I read that headline. Thought I was on the wrong site. Thank-you Turd, sir.

Patience is a virtue - Turdites (in general) have a lot of virtue. The natural laws of economics will prevail someday (maybe soon - maybe not - but someday).

ReachWest's picture

@Irene - Well put!  Look

@Irene - Well put! yes

Look forward to hearing what happens at Jim's NYC meeting on your return.

Bill of Rights's picture

Obama: 'There is no debt

Obama: 'There is no debt crisis'

http://rt.com/usa/obama-there-is-no-debt-crisis-265/

dropout's picture

Don't Count Your Chickens...

Before they are hatched, that is.

Gold will be priced higher, just as high as the pile of US dollars in debt. As the debt pile grows, so grows the the price of gold. Until gold becomes more valuable than the pricing mechanism.

Thats when the fun REALLY hits the fan! Good luck trying to find someone to sell you some gold for worthless paper. Bad currency drives good money into hiding. We still have a way to go, before we see this come to pass. Make no mistake, it will come. BTFD.

Hagarth's picture

Oh Good, now I can go...

on vacation with all the money I am going to make on Friday.  Sure need a vacation, maybe I could visit Santa in NY!

That 797B is Way more impressive when its coming down the road towards you, have a search for the 797 B Tow Truck it is just as impressive. 

A few years ago during the Winter I watched a 797 B going down a hill with no Load, all of a sudden it started to slip on the road and did a quick 160 degree spin!  Good thing it was in the mine and there was no traffic, remember its always nice to have some ballast, whether in a boat , truck or financially...always keep some junk in the trunk!

Patrancus's picture

Maybe maybe not

Road_Scholar's picture

1000% gold with 100% guarentee!!

images?q=tbn:ANd9GcTWaexFg6uSoZ5lIyS_hFC

Bollocks's picture

Predictions - enough already.

I predict that all predictions will forever be extended until all dates predicted are proved to be wrong as the event that all the predictions are predicting happens, but well outside of any date that was predicted.

So proving that dating a prediction is pointless.


I'm good at predictions, me.

Dr Jerome's picture

No debt crisis?

<rant> Whew. I am glad to hear that.  I suppose if you are wealthy and you go broke overnight, that is a crisis. But if you are broke and get broker, technically that is NOT a crisis. So our crisis was in 2008. Its like telling a lie. When you tell the first lie, you become a liar. but when you tell another lie, to get out of the first lie, and then another, etc. You are still a liar. the US governemt went from being somewhat financiall free to being a debt slave. We are still a debt lsave, Obama. And he has no interest in fixing anything. No need to fix this problem because it is not a crisis. He has lots of crises up his sleeve, like guns, that he wants to fix  </rant>

Slow day in the metals. I am bored.  Sometimes you need the real thing. But I am not endorsing paper assets. Now here is a real crisis, one I face at least once per week in my house. There is something symbolic here...

Patrancus's picture

Obama, Their is no debt

if you take into account the 18-19 trillion in retirement account assets that American people have squirreled away. Hoping to have a few shekels to keep them fat and happy in retirement, you know this goob as well as his armada of progressive bots are planning to take it all under their management and promise you the world. Idiots!

tmosley's picture

Lately I've been feeling like

Lately I've been feeling like this a lot:

This shit is just getting annoying.  Wish this doom that is impending would just come on already so we can move on.

Gramp's picture

Still Here!

Hey, Thanks Turd for what u do.  Yes I am here though don't have much witty to say!

   Guy's small gold bracelet was setting off the scanner at the State Building yesterday,  another guy's oversized metal belt buckle did not set it off. Pointless comment I guess...?!  What's real is real, the rest is just made to look the part.

Keg's picture

Top people in the world here at Turdville

Eric King always interviews "the top people in the world."  I am not sure what that exactly means but I think he could find the top people right here.

erewenguy's picture

Just pulled the floor out

Just pulled the floor out from under bonds. Took the air out of the metals for now.

edit - yikes - TLT is learning how to FUBM

Bill of Rights's picture

We're all rich!, the DOW is

We're all rich!, the DOW is one blow off top day after another. Its almost boring lol. Reminds me of this guy...

Bill of Rights's picture

.

.

Joe Dokes's picture

@ That's Right Turd (from the last thread)

"It's all about me me me me me me me me.

Now I'll stop sending that money I send you every month and spend it one me.

You sure know how to keep friends and make enemies."

Sorry if anyone has already suggested this but maybe, in addition to the option to give hat tips, the site should add the capability of giving hat stomps.

dropout's picture

Tell Me Another One...

...just like the other one!

Obama saying the debt does not matter? Now this guy...

http://www.finance.yahoo.com/blogs/breakout/uptrend-gold-broken-next-stop-could-1000-don-111255307.html

Reminds me of Art Laffer, laughing in the face of Peter Schiff in 2006 as Peter was warning of the impending crash in the housing market.

thesandbox's picture

Budget proposal....

With the latest budget proposal making its rounds I am just wondering how do you cut interest payments from your budget??????  Anyone.....?????  I always thought paying interest was the minimum amount one could pay.   It is either default or planned lower interest rates for many years to come (oh wait we can't get much lower)....no? 

The Senate budget plan, drafted by Sen. Patty Murray, D-Wash., blends about $1 trillion in modest cuts to health care providers, the Pentagon, domestic agencies and interest payments on the debt with an equal amount in new revenue claimed by ending some tax breaks.

The Watchman's picture

TRUTH

578948_10151470123797346_1031059014_n.jp

PMBull's picture

Would Be So Awesome If...

This post turned out to be right, and the metals shot up from here to new highs.  Wouldn't have to be 1000% to be cool.

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