Ultraviolet

316
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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  316 Comments

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Number 47Monedas
Jul 24, 2011 - 1:47am

Consider this Monedas.

Socially and politically, America is essentially a baby amongst elders. Europe, Asia, the middle east have been working these things out for millenia. I think we know what we are doing. America still has to make the mistakes we all did and learn from them. To a European American nationalism is laughable. Unlike your posts.

I told you this over on Kitco before, you're not funny. Your views are your own and adding an epitaph to them does not suffice as comedy.

If you want to be a comedian, please sell tickets to a show and see how you get on. Save the rest of us your diatribe. Get a hobby or something.

As for your post on the Norwegian tragedy. Shame on you. Big, steaming piles of shame you weasel mouthed bigot.

JoeKakliguy38
Jul 24, 2011 - 1:21am

Risk on trade then?

@kliguy38: does this mean a risk on day for stocks next week and interim downtime for metals?

kliguy38
Jul 24, 2011 - 1:00am

Deal done Sunday afternoon

Expect the "deal" to be done before the asian markets open....and expect a positive market response to carry over for a day or two. This faux fight between the supposed two party system is only for the sheeple to believe that "their side" is fighting for them. Whatever the outcome its a one or two day market event and take advantage of it. This is just more extend and pretend can kicking......sorry for the mixed metaphors but the real default will be much more insidious and NOT telegraphed. enjoy the Kabuki theater though. Its pure entertainment.

zilverreiger
Jul 24, 2011 - 12:39am

Peter Shiff said on KWN he is

Peter Shiff said on KWN he is already starting a bank with accounts holding gold as backend, with a "credit card" to pay fiat with at spot exchange.

Only downside was americans cant open an account, must be for legal reasons.


MonedasPegasus
Jul 24, 2011 - 12:33am

Pegasus !

I'm not in favor of taking innocent life......whether Waco or Oslo ! I am against Liberals ! Guilty as charged ! 80 years of the New Deal has brought us to the brink of Armageddon and Liberals are in denial of their responsibility ! They won't let Conservatives in on the fix ! Like Racism, Liberalism is oppressive and arrogant ! There is no racial barrier or glass ceiling as intransigent and unjust as the Liberal strangle hold on our Democracy ! The Liberals, full of sunshine and goodness, have played down and dirty with our Democracy ! They are ruthless in imposing their institutions on us ! If there isn't a more or less regular changing of the guard in our Democracy.....it isn't working ! Conservatives have been spectators on the sidelines ! The Liberals want no part of creating a level playing field ! They suddenly want no part of Reform....if it means giving conservatives a fair shot at sharing power ! Run the numbers ! We Conservatives are a permanent minority politically.....but a majority demographically ! Monedas 2011 God bless you and may you find your way out of the darkness that surrounds you !

Shill
Jul 24, 2011 - 12:01am
JimiTheGoodDoctor
Jul 23, 2011 - 11:57pm

How so Doc?  The trolls I

How so Doc? The trolls I mean, how are they cracking the whip on them? That will be a relief.

Jimi
Jul 23, 2011 - 11:56pm

Flash Crash

Oh, and there is going to be a flash crash next week.

TheGoodDoctorjlee2027
Jul 23, 2011 - 11:34pm

@jlee2027 A much needed

@jlee2027 A much needed upgrade. Wow. Things were hard to find there and I am glad they are cracking down on trolls.

Larry
Jul 23, 2011 - 11:32pm

TF is not really cryptic

just musically literate. Maybe he just had to fly...

‪U2 - The Fly (From Zoo TV DVD)‬‏ - YouTube

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