latest sinclair and gold.

  1. 866 Posts.
    Good day for gold shares me suspects.
    Anyone wish to hazard a guess as to what Sinclair is alluding to, re OBL below.

    Wednesday, October 22, 2003

    This is “THE MOVE”

    Author: Jim Sinclair





    Accumulation leads to mark-up in all markets. The Asian/Islamic accumulation spanned 1996 to the present. The mark-up phase has begun. This is the Big One! Yes, after mark-up comes distribution but this time it might NOT be into any market. Remember what I just told you because this is all I can reveal at this time.



    As most of you already know, this phase is not dependent upon the state of the US dollar even though the onset of a serious bearish reaction to the long equity rally and the dollar weakness has put some added fire under this up move.

    Gold’s rise has nothing to do with the old gang in the Gold Community. And in fact there is really nothing the Gold Cartel or the Exchange Stabilization Fund (ESF) can do to outsize the underlying demand for gold that has the $430 level clearly in its sights. I may have to visit Asia in November but if I do please understand it’s in your best interest.

    There is a reason behind the timing of this move in gold that will escape most Western observers. It is a hard one for me to explain because I’m walking on egg shells on this issue.

    You may notice that there is a complete media blackout - except for a small quotation that fits Western PR interests - on the recently authenticated Osama bin Laden tape released by the Qatar-based satellite station Al-Jazeera, the Arab version of CNN.

    The reason why gold is rising and the dollar is falling into new low territory is contained in that tape. That again is all I can really say as an American in light of our new constitution, Patriot 2.

    All the Gold Community needs to do to support gold is absolutely nothing. Sales into strength never hurt a situation including gold. Isn’t it crystal clear now that you buy anything gold on weakness TA correct and you sell anything gold TA correct? By doing that, you will simply build profit after profit!

    Those wishing to sell should do so into strength on the overbought side of Power Up channels. Anyone that won’t devote an hour to learning basic TA based on my efforts on this site, does not deserver to make profits.

    These people are market accidents looking for a place to happen. That’s why it bothers me that an advisor-induced, non-professional sell on a great gold share at a singular price drives me ballistic.

    It will be interesting to see if these hack gold advisors roll out their Trojan horses the day gold fails to close above the previous day’s high. All it might do this time is take their subscribers out. If this occurs under $400, then those gold people will not be happy when they see $410, $420 and $430 roll out.

    The so-called super professional commercial geniuses of COT are about to be skinned alive. You may laugh at me again if you wish but when gold is well above $400 in November you will know that I did everything possible to inform you of your tenuous position. I don’t wish to see you lose but you have determined your own fate for a reason that I simply can’t fathom.

    The dollar is in big trouble. The triple digit US deficit is out of control. Afghanistan and Iraq - which historically have been graveyards for their “conquerors” - are preparing to devour even more. There is no cure in 2005 for the economic sins now committed in the name of political necessity – in this case the incumbent trying to get back into the White House in November of 2004.

    Regardless of who wins, there will be no cure then. Yet COT persists in the face of those realities to nurse a monstrous short position that now represents a minimum $50 loss. What will it be when the loss is $150 and no cover is possible other than a death shroud?



 
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