Another Winner!

153
Mon, Jul 18, 2011 - 10:29am

I've got the re-crossing of $40 silver at about 3:09 EDT last night. Someone just won another autographed yellow hat. But who? I have no idea, frankly. I know someone out there in TurdLand has a spreadsheet of all the picks. Please post the winner in the comments section of this blog.

Our precious precious metals are sure looking fine this morning. Copper, crude and the grains are all down so it is clear that the world is looking at the PMs as safe haven plays...which they are. It's nice, too, to see that silver has shrugged off the "commodity" tag and is soaring alongside gold. Look for this to continue.

Now that silver is back above $40, look for the big money that left the pit back in May to come pouring back in. Not right away but in stages. IF silver can hold its position today and close above $40, the stages will be set for a run toward 42-42.50. It may briefly pause there before continuing higher. A close through $43 will force more dollars off of the sidelines and back into silver. Like April, we will likely see an accelerating move toward 48 and even 50. Do not think for a minute that the Forces of Darkness won't try everything in their power to paint a double-top at/near $50. Be very careful as price approaches that level. However, that's a topic for another day. For today, just enjoy the fact that silver is back above $40 and looks poised to mount another run toward 50 and...eventually...beyond.

Of course, gold looks fabulous, too. Hanging in there just above $1600 as I type. The simple fact that raiding and profit-taking at the psychologically significant sixteen hundred level hasn't occurred is interesting. If gold stays above 1600 for another hour or so, you may see buyers gain confidence that a quick drop will not be forthcoming. IF this happens, gold should skip away toward 1610. In either event, this is big news! Gold above 1600 is headline-grabbing material and it is sure to attract attention. It will help provide bids for the miners and it will provide spillover strength into the silver pit. A virtuous cycle, so to speak. Let's watch and see.

Have a great day. Rejoice and be happy. We are winning! TF

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  153 Comments

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henry
Jul 18, 2011 - 5:34pm
magis00
Jul 18, 2011 - 5:30pm

Great Day

Word is spreading, thanks to 1600+ and 40+ -- been a fun day, talking PMs up to those around me.

Also, just feel impelled to share:

RON PAUL 2012!!!!

Video unavailable
pourtymurphy
Jul 18, 2011 - 5:28pm

Dogs and Cats...

Personally, I favor rabbits... (P.S. I googled "snake eats cat" but couldn't find a relevant pic... darn!)

Edit: NY Globex Closed at $40.65 for silver and $1606.10 for gold.... woot!

LaMachinnaSilverTree
Jul 18, 2011 - 5:24pm

Holy....

freakin' snake, Batman....

Tesla, hurry and hide babies....

<giggle>

Frankenstein Government
Jul 18, 2011 - 5:20pm

Don't Worry About The Debt Ceilng...It's Just Theater

I've been reading a number of folks who think they can predict PM prices based on what those buffoons in D.C. agree upon.

The only scenario that would punish PM prices is the one that is needed. The one nobody will do. That's the one that slashes and burns 20% of government employees and spending and wipes 10 trillion off the books. Anything short of that is just pissing in the ocean. And of course...we will get pissing in the ocean. It will be comical to see what ridiculous settlement gets reached. Cowards cannot be brave. It is simply not in their nature.

So buy safely. At 40 bucks an oz....silver is a steal. I've been more focused there because of the historic ratios being so out of whack. Peak silver and production levels are behind us. Anyone that tells you that they can produce an ounce of silver and market it for 5 bucks is an imbecile. Be safe. Buy physical. Two billion Chinese can't be wrong.

AronnaxTheGoodDoctor
Jul 18, 2011 - 5:08pm

Govt communiques + warning folks + Silver porn

Agree absolutely, Doc. Remeber the Prez saying that buying stocks would become a good idea, just days before the market bottom in 2009? Remember Buffett selling S&P puts? Do they need cover their-r behinds? Gloat about being right? Telegraph to their paymasters? In any case, definitely noticeable - and especially so lately.

In terms of warning others, here's an example of the letter I've sent to some friends/acquaintances -- clearly needs more work, but the (few, I admit) positive responses I've gotten thus far has already made it worth the effort.

https://realsimphony.blogspot.com/2011/07/letter-to-sleepers.html

And finally, I am not sure if Mrs. Silver Queen has graced the pages of TF's world before, but I thought this channel was sweet (if a bit silly). Calling attention to the cause by any means available/necessary:

Mrssilverqueen is Hosting a Silver Contest! This is YOUR Chance to Win a Mrssilverqueen Piece!
Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Eric Original
Jul 18, 2011 - 5:03pm

A blast from the past

Good day for a blast from the past on the old blog.

Looking Good, Billy Ray!! https://www.youtube.com/watch?v=mmMS9nvi6eg

TheGoodDoctor
Jul 18, 2011 - 4:58pm

@DPH Harvey Dent is the

@DPH Harvey Dent is the Batman guy.

TheGoodDoctor¤
Jul 18, 2011 - 4:57pm

@DPH Yeah. I know what you

@DPH Yeah. I know what you mean. All the places I check everyday (ZH, The Turd, KWN, Infowars, etc.) all point to a major "connecting of the dots" with all the news stories that I read every day. It's as if you can start to see it before it happens after awhile. Like boolean logic. If A then B then C. You really have to start reading between the lines with what TPTB say in everything they say. They are alerting you indirectly. Think Tim Geithner recently saying that what is coming will be very painful for a lot of people. That is a tip off.

Then at times it feels like a slow motion train that is actually moving faster on the outside than what you can see on the inside but it isn't slowing down. It keeps going faster. I've been hanging on. I try to warn folks that will listen. Half think I am full of myself and am "showing off my smarts", the other half listen half heartedly and then let it go. That is why I come here. I know at least that I am helping the community.

It's people that want to listen, shake of their chains, and think for themselves and help themselves. I've learned so much the past 5 years or so. And I am happy to help anyone's learning curve go that much quicker.

murphy
Jul 18, 2011 - 4:56pm

dog v. cat

As you may have guessed I am a dog person too. Not to mention a border collie, the smartest breed of all. Sorry, had to brag.

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Key Economic Events Week of 9/28

9/29 8:30 ET Advance trade in goods
9/29 9:00 ET Case-Shiller home prices
9/29 10:00 ET Consumer Confidence
9/30 8:15 ET ADP employment report
9/30 9:45 ET Chicago PMI
10/1 8:30 ET Personal Income and Spending
10/1 8:30 ET Core Inflation
10/1 9:45 ET Markit Manu PMI
10/1 10:00 ET ISM Manu PMI
10/2 8:30 ET BLSBS
10/2 10:00 ET Factory Orders

Key Economic Events Week of 9/21

9/21 8:00 ET Goon Kaplan
9/21 10:00 ET Goon Evans
9/21 Noon ET Goon Brainard
9/21 6:00 pm ET Goon Williams & Goon Bostic
9/22 10:30 ET Chief Goon Powell on Capitol Hill
9/22 Noon ET Goon Barkin
9/22 3:00 pm ET Goon Bostic again
9/23 9:00 ET Goon Mester
9/23 9:45 ET Markit flash PMIs for September
9/23 10:00 ET Chief Goon Powell on Capitol Hill
9/23 11:00 ET Goon Evans again
9/23 Noon ET Goon Rosengren
9/24 1:00 pm ET Goon Bostic #3
9/24 2:00 pm ET Goon Quarles
9/24 10:00 ET Chief Goon Powell on Capitol Hill
9/24 Noon ET Goon Bullard
9/24 1:00 pm ET Goon Barkin again & Goon Evans #3
9/24 2:00 pm ET Goon Bostic #4
9/25 8:30 ET Durable Goods
9/25 11:00 ET Goon Evans #4
9/25 3:00 pm ET Goon Williams again

Key Economic Events Week of 9/14

9/15 8:30 ET Empire State and Import Price Idx
9/15 9:15 ET Cap Ute and Ind Prod
9/16 8:30 ET Retail Sales
9/16 10:00 ET Business Inventories
9/16 2:00 ET FOMC Fedlines
9/16 2:30 ET Powell Presser
9/17 8:30 ET Philly Fed
9/18 8:30 ET Current Acct Deficit

Key Economic Events Week of 9/7

9/9 10:00 ET JOLTS job openings
9/10 8:30 ET Initial jobless claims
9/10 8:30 ET PPI
9/10 10:00 ET Wholesale Inventories
9/11 8:30 ET CPI
9/11 9:45 ET Core CPI

Key Economic Events Week of 8/31

9/1 9:45 ET Markit Manu Index
9/1 10:00 ET ISM Manu Index
9/1 10:00 ET Construction Spending
9/2 8:15 ET ADP employment
9/2 10:00 ET Goon Williams
9/2 10:00 ET Factory Orders
9/3 8:30 ET Initial jobless claims
9/3 8:30 ET Trade Deficit
9/3 12:30 ET Goon Evans
9/4 8:30 ET BLSBS

Key Economic Events Week of 8/24

8/24 8:30 ET Chicago Fed Idx
8/25 10:00 ET Consumer Confidence
8/26 8:30 ET Durable Goods
8/27 8:30 ET Q2 GDP 2nd guess
8/27 9:10 ET Chief Goon Powell Jackson Hole
8/28 8:30 ET Pers Inc and Consumer Spend
8/28 8:30 ET Core Inflation
8/28 9:45 ET Chicago PMI

Key Economic Events Week of 8/17

8/17 8:30 ET Empire State Manu Idx
8/17 Noon ET Goon Bostic
8/18 8:30 ET Housing Starts
8/19 2:00 pm ET July FOMC minutes
8/20 8:30 ET Jobless claims
8/20 8:30 ET Philly Fed
8/20 10:00 ET LEIII
8/21 9:45 ET Markit flash PMIs July

Key Economic Events Week of 8/10

8/10 10:00 ET Job openings
8/11 8:30 ET Producer Price Idx
8/12 8:30 ET Consumer Price Idx
8/13 8:30 ET Initial jobless claims
8/13 8:30 ET Import Price Idx
8/14 8:30 ET Retail Sales
8/14 8:30 ET Productivity & Unit Labor Costs
8/14 8:30 ET Cap Ute and Ind Prod
8/14 10:00 ET Business Inventories

Key Economic Events Week of 8/3

8/3 9:45 ET Markit Manu PMI July
8/3 10:00 ET ISM Manu PMI July
8/3 10:00 ET Construction Spending
8/4 10:00 ET Factory Orders
8/5 8:15 ET ADP employment July
8/5 9:45 ET Markit Service PMI
8/5 10:00 ET ISM Service PMI
8/6 8:30 ET Initial jobless claims
8/7 8:30 ET BLSBS for July
8/7 10:00 ET Wholesale Inventories

Key Economic Events Week of 7/27

7/27 8:30 ET Durable Goods
7/28 9:00 ET Case-Shiller home prices
7/29 8:30 ET Advance trade in goods
7/29 2:00 ET FOMC Fedlines
7/29 2:30 ET CGP presser
7/30 8:30 ET Q2 GDP first guess
7/31 8:30 ET Personal Income and Spending
7/31 8:30 ET Core inflation
7/31 9:45 ET Chicago PMI

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