While We Have Our Eye's on One Dollar Moves, Silver is Planning to Triple, Gold to Double and More

Gold Price Close Today : 1826.70 Change : 38.20 or 2.1% Silver Price Close
Today : 41.398 Change : 0.852 or 2.1% Gold Silver Ratio Today : 44.13 Change :
0.015 or 0.0% Silver Gold Ratio Today : 0.02266 Change : -0.000008 or 0.0%
Platinum Price Close Today : 1855.50 Change : 31.50 or 1.7% Palladium Price
Close Today : 773.50 Change : 17.35 or 2.3% S&P 500 : 1,212.92 Change : 2.84 or
0.2% Dow In GOLD$ : $13,081.81 Change : $ (277.82) or -2.1% Dow in GOLD oz :
632.832 Change : -13.439 or -2.1% Dow in SILVER oz : 27,923.93 Change : -586.26
or -2.1% Dow Industrial : 1,155,995.00 Change : 20.67 or 0.0% US Dollar Index :
73.98 Change : 0.256 or 0.3% The GOLD PRICE baffled everyone today by rising
$38.20 on Comex and closing at $1,826.70. It's now trading at $1,839.10, but
nobody -- least of all me -- seems to know why, other than, "Somebody's buying
it." GOLD is pounding hard on that $1,850 ceiling, or it is tracing a double top
with last Friday at $,1850. First important support stands at $1,780. Overhead
the SILVER PRICE needs to barrel through $1,850, and soon, or admit to beginning
a longer correction. I am blowing hot and cold out of both sides of my mouth --
like a parricide throwing himself on the mercy of the court because he's an
orphan -- because although gold's past 10 days' performance gives it a downward
bias, I have been consistently UNDERestimating gold's performance. If it closes
higher tomorrow I will admit it is rising again and hop aboard. The SILVER PRICE
has also beaten me up lately. Friday, yesterday, and today the SILVER PRICE has
traded in a range of roughly 4025c to 4150c. This patter either marks a top or a
continuation (a breather before rising higher). SILVER actually looks more
likely to rise than GOLD . Last week's correction took it nearly to its 50dma,
and set up what might be another move up. Ratio rose today, but remains
equivocal. Down below the SILVER PRICE needs to hold 3976c, while up above it
must cross 4200c, then 4400c to prove anything at all. All this is just
dithering about what tomorrow might bring, but the long term outlook has not
changed. While we have our eye's on one dollar moves, silver is planning to
triple, gold to double and more. These markets are not suitable for shallow
pockets or the impatient. Stocks stalled today at 11,600, unable to punch
through resistance there. Better shoot the general in charge and bring out
another. Dow needs some new energy breach 11,600. Dow closed today up a nothing
20.7, a jiggle, to 11,559.95. S&P waddled right along side, up 2.84 to 1,212.92.
Temporarily momentum is up because day before yesterday stocks closed above
their 20 day moving average. Still, that needs to be confirmed by a continuing
advance and a close over the 50 dma, now at 11,926. Here's what I don't like
about the US Stock Market: a real stock market has an economy behind it. The US
stock market doesn't, at least, not one that is anything grander than a filmy
veil hiding the ugliest bride you can imagine. Somebody's getting fooled. Stocks
-- they are the sow behind the propaganda lipstick. Watching currencies -- all
of 'em -- is like being dragged to your child's fiddle recital. Some of the
children are getting it, but up steps one or two who are wasting their parent's
money shamefully and would be better off being taught how to do something useful
like changing tires or laying asphalt. Y'all know what this is like. The
performance is painfully bad, so bad you don't even lean over to your wife and
giggle in her ear, because the spectacle is so embarrassing for everybody you'd
be ashamed to do that. Anyhow, the US dollar index rose 25.6 basis points today,
a magnificent 1/3 of 1%, to 73.977. More meaningless movement within a narrow
range, before a rally which will probably proceed a drop to 39 [sic] or so.
Yesterday the dollar defended and validated support above 73.40. Wow. That
leaves me so excited I'm not sure I can stay awake. Then there's the euro.
Yesterday it traded to the top of its narrow range (high 1.4546), then today
gapped DOWN to close at 1.4443, down 1/2%. Euro has a great future as an oddity
of history. Yen remains close to the top of its range, held down only by the
mortification of the Japanese Nice Government Men. Argentum et aurum comparenda
sunt -- -- Gold and silver must be bought. - Franklin Sanders, The Moneychanger
The-MoneyChanger.com © 2011, The Moneychanger. May not be republished in any
form, including electronically, without our express permission. To avoid
confusion, please remember that the comments above have a very short time
horizon. Always invest with the primary trend. Gold's primary trend is up,
targeting at least $3,130.00; silver's primary is up targeting 16:1 gold/silver
ratio or $195.66; stocks' primary trend is down, targeting Dow under 2,900 and
worth only one ounce of gold; US$ or US$-denominated assets, primary trend down;
real estate in a bubble, primary trend way down. Whenever I write "Stay out of
stocks" readers inevitably ask, "Do you mean precious metals mining stocks,
too?" No, I don't. Be advised and warned: Do NOT use these commentaries to trade
futures contracts. I don't intend them for that or write them with that outlook.
I write them for long-term investors in physical metals. Take them as
entertainment, but not as a timing service for futures.