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TFMR Podcast - Friday, May 17


As you know, I'm currently traveling to a special event with old friends that will be held over the weekend. Therefore, there won't be time today to record your usual Friday wrap-up. With that in mind, I called up DenverDave on Thursday and got his thoughts on the current state of the precious metals and the mining shares.

This podcast was recorded on Thursday at about Noon ET. At that point, neither Dave nor I could know where Comex silver would finish the week. Would a massive raid materialize on Friday, designed to smash price back down below $29 or even $28? On the other hand, would the rally continue and allow for a weekly close at/near/above the breakout level of $30. We didn't know the answer on Thursday but by the time you're listening on Friday or Saturday, you will know.

Now by no means does that make this podcast dated or obsolete. Potential price breakouts were only a small part of the discussion. Instead, Dave and I focus on what may be a new pricing paradigm emerging out of China. Has Comex lost the role of "price maker" and, instead, become a "price taker"? And how would we begin to sense this? Are there hints in the CoT reports? Do the ongoing premiums in Shanghai provide clues?

Anyway, all of that gets discussed in this podcast and you're going to want to give it a listen. When Dave and I get together, there's never a shortage of topics to cover and we always have a pretty good time doing it, too. This latest version is no exception.

Many thanks to Dave for his friendship over the years and for so generously sharing his time and expertise with us at TFMR. Please be sure to carve out some time this weekend to give this podcast a thorough listen.


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Key Economic Events Week of 6/10

6/12 8:30 ET CPI and Core CPI
6/12 2:00 ET FOMC Fedlines
6/12 2:30 ET Jerry's presser
6/13 8:30 ET PPI and Core PPI
6/14 8:00 ET Some Random Goon
6/14 10:00 ET Prelim UMich

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