gold

  1. 216 Posts.
    From Jim Sinclairs Mineset,Technical Review

    February 13th, 2003

    Short and Sweet! Gold has good support at $351.65 to $352.50 that I feel will hold. Assuming I am correct, here is the progression to expect in gold with a battle at each point.

    From tomorrow's opening over the balance of next week, expect $358.08 to $364.50, then its biggest battle at a range of $371.50 to $372.45 and, ASSUMING WE WIN AT THAT LEVEL, then $385.30 to $390.80, followed by $409 to $414. ONCE A LEVEL IS CROSSED IT WILL BECOME SUPPORT.

    The most likely level for gold to get to is the range of $371.50 to $372.45 where the greatest war between the forces of good, us, (the bulls with white hats) and the forces of darkness (the guys/gals with black hats), also known as the bears, WILL TAKE PLACE.

    However, in time it will once again be akin to the Battle at the Bridge in which the forces of darkness: JPM, GS, ML & LB, the bears of course, are reduced to stumps. See you at the golden battleground in a few hours in Hong Kong. Hope you join me there via the gold price on our home page. We are certainly more fun than the competition if you can even call them that. It is better than watching the boob tube. You can see "Jimmy versus the Volcano" in terms of prices because I will be there looking for opportunity.

    Remember the Battle Cry: "Never mess with the One-eyed Golden Geezer." You know I lost my sight in one eye when I was speaking on the phone with my former partner, Vincent. We didn't talk for a while. Vincent called and wanted to know why I hadn't called. I told Vincent what happened when I last spoke to him and then said: "Vincent, the reason I haven't called is that I am afraid that if I talk with you something important on me might fall off."

    Look at each point as if a really big and ugly "Gold Dealer's Cartel of Common Interest" member was standing there with a very large baseball bat to knight you on the head. This is a golden "Battle Royal" - enjoy it as you are the winners but you simply don't know it yet. I do!

    Keep in mind (KIM) that there is no way at all that a new US dollar bull market is being launched here, IMHO (in my humble opinion). At best, a technical rally sponsored by the ESF (Exchange Stabilization Fund) is all she wrote. The full size lady has not sung yet and will not sing for quite a period of time.

    Look for the ESF to show up whenever the President, Secretary of the Treasury or The Chairman of the Federal Reserve is speaking on the Boob Tub (Financial TV or ESPN). It is their (ESF's) duty. You can't have the Boss looking like the Peanut Man, former President Carter, who only became "presidential" after being president. Each time he spoke, gold would rise and the dollar fell. I named my home in Scarsdale, NY, "Carter Acres."

    No Bull Market in the US$ = No Bear Market in Gold.

    By the way, to my friends up in Canada that always seem to be sending down frigid air just to freeze me out of my long-johns, the Canadian Dollar is looking real good. What would you think about "One Lonney = One Buck?" Your answer is probably that's LONNEY! Well, it may not be.

    Regards,
    Your Watchman,
    Jim

    CJ

    I hold CRS at 83c

 
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