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

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Jul 24, 2011 - 6:27pm

Surely the debt ceiling, if

Surely the debt ceiling, if an agreement has been reached, can be sold as a positive though and thus will push down the commodities, at least it will give them the ammo needed to push down commodities?

Jul 24, 2011 - 6:26pm

dph I did a quick search for


I did a quick search for you but couldn't find it either. Sorry.

As for Up Up and Away, forget that! Weez headed for the Fifth Dimension bro!

Jul 24, 2011 - 6:26pm

Timmay The Tax Cheat....

...has been speaking on Chris Wallace on Fox News for the last 10 or 15mins...all the same old typical bullshit. Republicans have no plan, but obama's non-plans are actually good plans. I don't know what he's smoking, but it must be the best. More delusions that the economy is "healing", jobs are being created, lots of progress coming, blah blah blah.

Uber douche-bag.

Save yourselves folks, cuz these assholes on both sides are going to continue bringing the ruin hard-core to us all. Keep stacking the phyzz, as well as food, supplies, ammo, guns, etc.

Obviously this asshole's appearance on Fox News didn't help matters much...Gold is rocketing up the charts breaking more world records right now at over 1614/oz

Silver's on the way to 41/oz - I'm sure another beat-down is well in the works though, but as we've seen lately, each beat-down has had less effect than the last. The EE still has fire power, but people just aren't caring anymore and are BTFD's!

Fiat price means nothing...BTFD's or buy on a regular basis and keep stacking. When this is all said and done who's really going to care whether they paid 30, 35, 40, 45, or 50+ when silver will be the equivalent of hundreds of dead fiat zombie FRN's.

1615 just hit at 6:27pm EDT

Prize Fighter
Jul 24, 2011 - 6:25pm

BM wants to know..... WHAT'S

BM wants to know.....


Jul 24, 2011 - 6:25pm
Jul 24, 2011 - 6:23pm

Algo's are spasming

I think the algo's are spasming out on all of the negative news and were about to find out what they throw up and in what direction...up, up and away

Up Up and Away
Jul 24, 2011 - 6:23pm

Man I wonder what is going to

Man I wonder what is going to happen when Asia opens up?

Jul 24, 2011 - 6:21pm

DaveyBoy, from the WH's Mouth

White House Chief Of Staff Warns About "Stressful Days In The Market"

Submitted by Tyler Durden on 07/24/2011 10:57 -0400

  • Debt Ceiling
    • Reuters

      Update: we have just gotten word that there will be a GOP conference call at 4:30 pm on the debt limit. Apparently the GOP is dead set on the 8pm Asian open and disregarding the much more important FX open.

      It may be time to panic... at least on a "transitory" basis. After Boehner essentially said earlier that there are still no details what the "two-tier" plan noted yesterday would look like, we now are 5 hour away to FX open. And judging by the comments of White House Chief of Staff, it is almost as if the administration would like to see a selloff. Per Reuters: "White House Chief of Staff Bill Daley said on Sunday there will be a few stressful days ahead for financial markets but that a U.S. debt deal will ultimately be reached. "In the end, we may have a few stressful days coming up -- stressful for the markets of the world and the American people," he said on the CBS program "Face the Nation. Daley quickly added that he is confident a deal will be reached to raise the debt ceiling. We are confident he is right. We are also confident that if it takes a 200 point plunge in the S&P to achieve that target, well, so be it.

      We suggest grabbing front row seats at around 4pm today when the first USDXXX pairs start getting updated.

Jul 24, 2011 - 6:19pm

Gold and silver both up

Gold and silver both up almost 1%.

Jul 24, 2011 - 6:19pm



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