jim sinclair's gold market summary ~ aug 29

  1. 2,839 Posts.
    Morning fellow Gold Bulls,
    Here is Jim Sinclair's latest offering, courtesy of "MineSet".
    Cheers,
    Carl.

    Dateline: August 29th, 2003.
    Dear Friends,
    Stay professional and stay focused. Over enthusiasm when a position is correct and profitable is as much of a thief as is the depression that sets in when a position comes under selling pressure.

    You heard it here when I was buying from the low $350's and increasing my purchasing of gold when it approached $342. The goal was an assault on $400 and a potential of $430.

    Many of you made fools of yourselves yesterday trying to sell your junior gold shares to each other. Remember this and make your partial (1/3) liquidation into strength.

    The worst of yesterday's experience was the outrageously bad executions that occurred in the junior gold shares where clearly you did not discipline your brokers. In many cases, these irresponsible acts of
    corporate responsibility are being perpetrated by insiders who sell insider options into their own company's share market without any attention to limiting the prices or amount they sold.

    I know exactly what those executions look like and they were rampant yesterday. Shame on you insiders! Trading and investing in gold shares is a game of musical chairs. When the demand stops, the exit chairs
    disappear.

    Community members should sell into strength along the over bought side of the up trending channels and most urgently along the overbought side of the up channel. If you have given me 15 minutes, I have taught you
    how to recognize these attractive points in which to reduce your positions by 1/3.

 
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