The following is a missive that we received from Jim Sinclair today, who is the host of a web site called Jim Sinclair's MineSet in our humble opinion its well worth the time spent on reading what he has to say. The above link will take to his site and his updates via email are free, so you have nothing to lose by signing up for them.
My Dear Extended Family,
Today has been interesting in a perverse way. I have heard from every gold short who knows my name. I have heard from every weak gold holder that knows my name yelling for help. This time I cannot answer all the incoming communications. Nobody could.
A month ago I got over 3500 incoming emails in less than three hours. The shorts exulting by email really cannot expect an answer. Even the weak gold and frustrated gold share holders cannot expect me to assuage their pain one at a time. The reason is it is always the same people pushing the panic button.
I fully expect Alf Fields to be proven correct. As of today nothing he has said is wrong. He feels the gold price has bottomed in this reaction. That is yet to be proven incorrect.
The US dollar is not putting on a grand performance today. The US economy is not going to support the sitting Administration's desire for another 4 years. QE to infinity is certain even today.
There is a global stock market sell off today which is totally unacceptable as it pertains to the US market in an election year. Liquidity floats all boats and all boats are screaming for that liquidity today.
The cash market continues with its brake on the fully out bearish algorithms attacking the paper gold market.
Re-read the recent interview I did in Futures Magazine as it covers all relevant to gold fundamental issues. Like all other reactions in gold since $248, this will end, and gold will again go to new highs.
Gold companies with 43-101 certified resources that are growing are calls on the gold price that have no end in terms of time.
If you cannot stand the heat you must get out of the kitchen. If you can stand the heat, I firmly believe we will prevail and be rewarded in shares and gold itself.
Please accept this as what I would have told you on the phone. Please accept this as the answer to your cries for HELP by fax and emails as no one can answer this many emails and faxes.
If after you review the fundamentals in Futures Magazine you agree there is no change, buck up your courage and stop watching prices. They will get better as soon as the algorithms do not get their way and mindlessly reverse themselves.
Nothing is better for gold than an implosion on the Dow as it is intolerable to the PPT. That is where the Fed's and Administration's head is at. Liquidity floats all boats. The Administration controls the Fed under such circumstances. In the entire history of the Fed, they have never failed a sitting administration.
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