Fri, Jul 22, 2011 - 10:21pm

Just two simple charts for you to chew on over the weekend. I'll be unavailable for a couple of days as I'm headed to where the streets have no name. It'll be a sort of homecoming for me in the city of blinding lights, out there in God's country, where the land is often as white as snow. This time of year, however, it should be a couple of beautiful days.

First up, here's a weekly silver. As you can see, the uptrend from 2010 appears to be firmly intact. This chart confirms for me, however, that silver, above 40, will encounter some resistance around 42 to 42.50. It won't be the end of the world but there may be a period of a few weeks where gold will outperform. Ah...silver and gold. What a pair! Two hearts that beat as one!

Gold, on the other hand, looks magnificent...almost like staring at the sun. Gold may often seem to move in mysterious ways but, in fact, it moves with grace. Once you realize that the goal of The Cartel is to manage its ascent, you can begin to see, and rely upon, repeating patterns. The most grand of patterns is evident on the chart below:

The pattern above is not just the real thing, it's even better than the real thing. Note how, since 2009, gold has followed a six-month pattern of, roughly, 20 weeks UP followed by 6 weeks down. It may appear out of control but it is, in fact, the sweetest thing. Gold is now clearly into its next 20 week UP cycle. Following pattern, we should expect a mid-November high, somewhere in the neighborhood of $1800. Not bad.

That's it for now. I must walk on with or without you. I hope you have a great weekend though of course, some days are better than others. This is my exit but I'll be back in three sunrises. TF

About the Author

tfmetalsreport [at] gmail [dot] com ()


Aug 25, 2011 - 12:57am

Try article

I really liked the article, and the very cool blog

Jul 25, 2011 - 11:03am

Good (late) morning Eric,

Good (late) morning Eric, ....couldn't sleep is all. ...so I was up at 1:30 canning peaches. "/ How crazy is that. ......Now, if I'd been canning bacon that wouldv'e made a little bit of sense ...as you just can't ever overdo it on the bacon front. :D

Those Campo spots are a blast from the past!...and so funny! lol. ......You don't get those days back. sigh.

Did someone say JUNIORS ?? ...Well, count me in! ....I'll be over to test drive a few TODAY!

Jul 25, 2011 - 10:37am

The 1600/40 "cherry" has been burst !

The Cartel will have to let the horse run free a bit to tailor their ultimately futile, but ever so vicious, counter attacks ! Be careful ! Monedas 2011 I hate to defend DSK, Socialist pig that he be, but that Hotel Harlot from West Afrika, is one lying bitch ! She is an embarrassment to the Clintons and other professionals of the craft ! All my considerable powers of observation and knowledge of human nature, currently on loan in the service of humanity, were screaming at me in full alert mode !

Jul 25, 2011 - 10:07am

Market finishes up today?

At this point I think anything is possible. Look at the POSX abd its been remarkably stable or night and still is. The stock market is recovering from it's early lows. Gold and silver did not do anything radical at all except for the first 1-15 minutes of last nights open at 6:00p.m.

All of this inspite of a very msm blowout on Friday and talking the market down all weekend and we barely get a normal market response except at the open but quickly recovering.

The EE is still there and battling oil more then anything at this point. Does the market finish up or even close to even today? How is this remotely possible?

Jul 25, 2011 - 9:53am

EE blows

Everyday, the same thing.

They cut the knee's out of the options or futures market just before they open, totally effecting the price momentum.


Eric Original
Jul 25, 2011 - 9:01am

Good Morning Ginger

What are you doing blogging in the wee hours?

BTW, I've been dropping names of lots of tiny juniors with $20m-$40m market caps over there lately. Got something for every budget! Drive one home today!

Dave Campo Spots 1984
Jul 25, 2011 - 8:52am

Visit the FAQ page to learn how to track your last read comment, add images, embed videos, tweets, and animated gifs, and more.

Eric Original
Jul 25, 2011 - 8:48am


Hello and Welcome!

Tough to tell what will happen here now. The debt ceiling thing trumps all for the moment. Do we get a deal or don't we? How much of one or the other is already priced into the metals? Inquiring minds want to know. Be careful out there.

Jul 25, 2011 - 8:38am

Moody’s cuts Greek rating/Just in time for U.S. markets to open

July 25, 2011, 6:10 a.m. EDT

Moody’s cuts Greek rating, warns on precedent

Debt swap almost certain to result in default, ratings firm says

By bwatts[at]marketwatch[dot]com (William L. Watts), MarketWatch

FRANKFURT (MarketWatch) — Moody’s Investors Service cut Greece’s credit ratings by three notches Monday, describing default as almost certain and warning that the new bailout plan for the country sets a negative precedent for creditors of other debt-strapped euro-zone nations.

Moody’s lowered Greece’s local- and foreign-currency bond ratings from Caa1 to Ca, one level above default, and assigned them a developing outlook.

Click to Play

Europe's Week Ahead: BP, Deutsche Bank earnings

Some of Europe's biggest banks will report earnings next week, including Deutsche Bank, UBS, Credit Suisse, and Banco Santander. In the U.K., oil giant BP PLC will release results on Tuesday.

European leaders last week approved a rescue plan that combines 109 billion euros ($156.5 billion) in fresh financing with an expected €37 billion debt relief from the private sector through a debt swap.

“The announced [European Union] program along with the Institute of International Finance’s (IIF’s) statement (representing major financial institutions) implies that the probability of a distressed exchange, and hence a default, on Greek government bonds is virtually 100%,” Moody’s said in a statement.

The downgrade and comments by Moody’s were credited with adding to pressure on European stocks, while peripheral euro-zone bond yields were on the rise.

Subscribe or login to read all comments.


Donate Shop

Get Your Subscriber Benefits

Private iTunes feed for all TF Metals Report podcasts, and access to Vault member forum discussions!

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

Recent Comments

by Outback, 11 min 43 sec ago
by Dr Jerome, 16 min 7 sec ago
by Turd Ferguson, 24 min 56 sec ago
by Ned Braden, 26 min 13 sec ago
by bpete, 27 min 13 sec ago

Forum Discussion

by Green Lantern, 9 hours 50 min ago
by KevinBenavides, Sep 27, 2020 - 6:01pm
by SteveW, Sep 27, 2020 - 3:47pm
by 11IMIX, Sep 27, 2020 - 10:45am