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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SilverTree
Jul 18, 2011 - 4:35pm
stoneeh
Jul 18, 2011 - 4:33pm

OI still at 115k for silver,

OI still at 115k for silver, pretty much the same as during the cutoff date for the current COT report. I am repeating myself here, but talk about ultra awesome levels of bullish. Regarding OI and LCNS we're still more bullish than both at Turd's bottom in January at 26,5$ and last August where the liftoff started from at ~18$.

- Markus

Eric Original
Jul 18, 2011 - 4:32pm

Harry Dent was one of the

Harry Dent was one of the original "Dow 30,000!!" guys. Nuff said.

brokeboater
Jul 18, 2011 - 4:32pm

Get enough of that kind of crap everyday right here on the blog.

Not just this blog, but most every blog/web site. Spewed propaganda is quickly lapped up by the hungry masses. Sinclair and Jessie seem to be the only folks who don't flavor their offerings with a political agenda.

Sanchez
Jul 18, 2011 - 4:30pm

OC15 And when you actually

OC15

And when you actually get to pay off your debt, they are still in control of that asset thru taxes and regulations( more taxes, registration, property tax, etc.

I think the key word is control. How do you take control of the asset?

I been reading about JP Morgan and how he had massive control over corporations and people thru contracts and that is one of the reason he was wealthy.

Economical Disaster
Jul 18, 2011 - 4:27pm

Harry Dent The WORST Economist EVER

I have been following this twig for years and I have never seen somebody so wrong ALL THE TIME..Listen to this garbage..SELL GOLD/SILVER/OIL (March 31 2001)

https://finance.yahoo.com/blogs/daily-ticker/harry-dent-major-crash-comi...

MIDDIE
Jul 18, 2011 - 4:18pm

Not Complaining

Who are these late buyers to the silver party? Not complaining, for sure, just needing to understand. This happened at the end of the day on Friday, too. Thoughts?

Economical Disaster
Jul 18, 2011 - 4:17pm

The death of the dollar will

The death of the dollar will be the largest single event in human history.

This collapse will be the first event to dramatically effect every human being on the planet. Few people realize the dramatic impact this event will mean to every single aspect of their lives. To those of you that do realize the enormity of this cataclysmic event,it is hard not to watch the kettle boil. While we do our best to become aware and prepared for this event,the dollar chart is the one chart everyone watches. I would contend that while we watch the dollar chart,it is not the one we should be really watching.

https://www.economicaldepression.blogspot.com

SilverTree
Jul 18, 2011 - 4:16pm

  Stop those F-ing CATS! I

Stop those F-ing CATS! I hate cats!

That is all.

-SilverTree

LaMachinnaBay
Jul 18, 2011 - 4:16pm

Awesome, Chin...

Thanks much!

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