Wed, Jul 13, 2011 - 11:41am

Well, the doldrums look like they've wrapped up about a month earlier than expected.

Gold is just fantastic. It needs to hold these gains until the Comex close. As stated yesterday, a close above the previous intraday high of 1577.80 would be extremely if the chart wasn't already bullish enough!

Silver is scaring the living daylights out of the shorts today. They should be scared at this point. Silver has finally broken through the down-sloping trendline from May and appears poised to go tackle the all-important 39.50 level. It, too, needs to hang onto these gains into the close. I'd like to see it print a Comex close above 37.88, which is the intraday high of 6/10/11.

Crude, copper, the's all good as The Bernank has apparently decided that there was no point in further lies/deception regarding the eventual continuance of QE to infinity.

More later. TF

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Jul 13, 2011 - 12:24pm


have totally busted through resistance

appreciate every word you write mr. ferguson

SuperManny Super_Douche
Jul 13, 2011 - 12:27pm

Quote:Maybe he means gold is

Maybe he means gold is not money, because you can't eat it.

The fact that you can't eat money either kind of invalidates that argument, IMO.


Boy am I glad to see this rally today!!! WOOHOO!!

I had some July 16 calls that I needed to get out of, and I was getting nervous. :)

Jul 13, 2011 - 12:28pm

Cream only up12.2% then? :-0)

Argentex, up 17.3

Paragon Minerals, up 14.2

Rye Patch, up 13.3

Northern Tiger, up 12.25

Bullion Monarch, up 12.0

And I own em all. A good day.

Jul 13, 2011 - 12:31pm


Based on past short term trends, every time Gold makes a new high it is taken out to the woodshed for 40 quick down pts. Go back and review it. I would be very cautious at this level and I speak to myself as well. The risk/reward is not good. The risk/reward was excellent when 90% of the Gold community was depressed and bearish and convinced of the doledrums not many days ago at 1480. Remember then?

I will not underestimate the Cartel's need to respond to the insults hurled at their shill, the idiot Bernanke. This is a very difficult juncture to 'play' because now the Street is assuming that QEIII is on and they are remembering Jackson Hole and the launch made there 1 year ago for QEII. But it doesn't mean I hold trading positions overnight when the Empire lurks in the shadows and has summoned its Ruprechts to hack at future prices in the wee hours of the morning. If strength continues tommorrow this is a different story of course but I won't pay too much attention to charts here. They are painted anyway. Its the psychology of the enemy at this juncture that matters most to me and the fact that I have already been gifted with good coin on this run-up.

and please, how many closes at 'highs' have we seen in metals only to wake up to gap downs in price the next day. I do not trust them. Its an old chestnut that the Banksters play with those who trade by the textbooks. The textbooks say hold overnight on good volume if the market closes strong at its high but how many times have I seen the banksters fade that one and surprise people?

Jul 13, 2011 - 12:31pm
Jul 13, 2011 - 12:38pm


GLD/SLV naked shorts falling all over one another to not deliver shares FRY. Knew the 1560 gold break out would stampede these thugs into FRYday. Gold should be north of 1600 and silver in the 40's as predicted by Turk yesterday at the break of the 38 peg.

Dr G
Jul 13, 2011 - 12:39pm

From the current Q&A

From the current Q&A session:

The economic world is falling apart around us, but I sure hope we can help minority bank owners get some fiat currency to lend out fractionally!

Who votes these people into office? Both parties are a complete joke and more of the same.

Jul 13, 2011 - 12:42pm

Paul Tortures Bernanke

That made my day, the look on Paul's face was pure Damien from The Omen, but nothing compared to the Oh Shit moment that Ben's painful expression betrayed. Fantastic.

Juan Moment
Jul 13, 2011 - 12:46pm

Snuggle time for Gold and

Snuggle time for Gold and Silver:

I do remember how in early May during the margin hike massacre Silver went down so much harder than Gold and I thought hmmm, maybe I should have weighted my gold/silver holdings more in favor of the yellow. But you know, on days like today, even though Gold and Silver climbed up like Siamese twins, and Gold setting actually a new all time high, in relative terms it is Silver winning the day.

beardeus ScottJ
Jul 13, 2011 - 12:48pm

OMG! I literally laughed out

OMG! I literally laughed out loud when I heard Bernanke's response.

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