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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snoochieboochies
Jul 18, 2011 - 1:51pm

Fingers crossed that we close

Fingers crossed that we close above $40 today!

Hillsie
Jul 18, 2011 - 1:48pm

Strength into the close

So we made it then.... lets see what the Globex/overnight and London open bring us ;-)

OC15
Jul 18, 2011 - 1:47pm

People don't have a clue

I think the EE secretly wants metals to go up. By this I mean the real EE, not the Morgue/US Gov't. They created this shit so they know what a fraud it really is and what real wealth is.

Most people still don't have a clue, of this I am certain. I deal with a many finance professionals in my job and I don't think I've ever had the gold, silver, fiat money conversation with any of them and not been looked at like I have 5 heads. I was recently at a tax conference with over 100 accounting/finance professionals. One of the speakers was an old college professor of mine that I know well. He agreed to ask the room for me how many people OR THEIR CLIENTS have purchased or have discussed purchasing precious metals as part of their investments. So we're talking 100 professionals and all of the clients they represent. How many people raised their hand? ZERO.

vinzzBay
Jul 18, 2011 - 1:45pm

I was thinking exactly that,

I was thinking exactly that, thanks for the heads up. I think Chris Rowe wrote a piece on this the other day, to train yourself in resisting so-called opportunity. For those interested I can look it up and share a link here.

Shill
Jul 18, 2011 - 1:44pm

Globex takes over from here

  1. 1:41p

    BREAKING

    Gold settles 0.8% higher at record $1,602.40/oz

SilverTree
Jul 18, 2011 - 1:43pm

Ecstasy Of gold

The Good, The Bad & The Ugly SoundTrack - Ecstasy Of gold
Vypuero
Jul 18, 2011 - 1:42pm

question

I know who Blythe Masters is, but who is Ruprecht?

buzlightening
Jul 18, 2011 - 1:30pm

I have followed Chapman for years!

His timing isn't always exact for metals physical purchases but he gets the fiat premise; implosion, and all the risk associated with bankster fraudsters. He's very economic survival intelligent. My .223/5.56 assault rifle with 1000 rounds ammo is mostly his encouragement. I do have friends which have been bulking up on weapons ammo but the assault rifles have just really gone big lately around Summit County, UT. Same thing I trained on in '71 but now I've got boo-ku lightweight magazines which hold 30% more.

Bayvinzz
Jul 18, 2011 - 1:29pm

vinzz

you have waited this long so continue to wait for a dip .... don't know what you are looking to buy (stocks/options) but buying right now means buying into strength .... wait for the market to come back to you on a dip

Shill
Jul 18, 2011 - 1:29pm

Former trader pleads guilty to threats

  1. 1:23p

    Former trader pleads guilty to threats

  2. 1:17p

    Former commodities trader pleads guilty to threats

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