Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

 

Search Gold Prices
Gold Price
[Most Recent Quotes from www.kitco.com]
Our RSS Feed

Gold Updates by Mail

Enter your email address:

Follow Us on Twitter
« Playing gold through equities | Main | Sarkozy vows reforms in austere New Year's speech »
Tuesday
Jan032012

Negativity In Gold Reaches Epic Levels

Jim Sinclair

The following is a missive that we received from Jim Sinclair this morning, who is the host of a web site called Jim Sinclair's MineSet

He sums up the situation much better than we can so 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.

Here we go: 

My Dear Friends,

The incoming negativity on gold last week reached epic levels. Friends of mine and gold for more than 40 years were looking for a towel to throw into the gold ring. When fear overtakes your intellect and you call, it is like molten magma spewing out of the phone or email.

If I dared to remind the caller that nothing has changed except the algorithms and then only for the short period of time I made the caller angry. I will admit anger is better than total depression but there is no necessity for either.

The advent of splinter parties to challenge the staid old Democrats and Republicans has put Washington into a total freeze frame. There is no mandate for anything, but don't rock the boat. All that can get done there is nothing whatsoever.

All the "can kicking" hopes for a strong economic recovery to heal the can bouncing damage have not and will not materialize. The Fed will not let the euro fail. Already the US Fed has provided the swap lines (loan mechanisms) to the ECB (a beard) to loan the Euro banks the liquidity they lost when the Greek bonds were cut 50% (declared not a default by the Board of Appointed Wizards on CDSs from the banks who wrote the useless bond insurance who are the official shot callers on the default word).

You will never hear any of the "D" words, be that default or deflation. You will hear "rescheduling" which is a default whereby the credit default swap does not have to function so the worthless insurance is camouflaged.

Arab spring is turning out to be the disaster we knew it was. Remember all the cheering on financial TV as Egypt imploded? Spontaneous outbreaks of democracy were simply a really dumb reaction.

Some people can only be ruled by strongmen. It was good the strongmen were all on the payroll of the West. The West fired the strongmen into holes in the ground with candy bars, and flood pipes with unused gold .45cal pistols. Now the true believers are taking over. Arab Spring will be seen as the rise of the Muslim Brotherhood as the most influential replacement.

Energy is in as much trouble from the Arab Spring as the Strait of Hormuz is from Iran. Yes, the Wunderkinds took advantage of the gold fear circumstances, but in terms of gold related items have overstated their accomplishments.

When you bully something to go your way you must not assume you are a genius and called the direction. You made it happen, and it will gobble you up the minute you are out of aces. Those gold shares and gold bullion holders that maintained reason over emotion are committed people that no squirt is going to force out of their positions to benefit worthless puts and large new very low priced shorts. At times old fashioned retail can have more staying power than hedge funds.

Please make note:

Gold will bounce off $2100 and react. Try to keep an even course as Alf is right. Gold has a better chance of seeing $4500 than $1400.

Throw away your razor blade kits provided by famous but mercurial gold commentators who have no mindset whatsoever other than to sell subscriptions or seminars.

Sincerely,
Jim

Regarding www.skoptionstrading.com. Our portfolio has now generated a profit of 374.43% since inception and we hope to keep it going that way in 2012

 

Please be aware that discussions are taking place regarding an increase in the price for this service for new members, so if you are thinking about joining us, then do it sooner rather later in order to avoid this additional expense.

Our model portfolio is up 384.33% since inception

An annualized return of 94.73%

Average return per trade of 36.42%

93 completed trades, 86 closed at a profit

A success rate of 92.47%

Average trade open for 49.25 days

 

So, the question is: Are you going to make the decision to join us today?

Also many thanks to those of you who have already joined us and for the very kind words  that you sent us regarding the service so far, we hope that we can continue to put a smile on your faces.

To stay updated on our market commentary, which gold stocks we are buying and why, please subscribe to The Gold Prices Newsletter, completely FREE of charge. Simply click here and enter your email address. Winners of the GoldDrivers Stock Picking Competition 2007  

For those readers who are also interested in the silver bull market that is currently unfolding, you may want to subscribe to our  Free Silver Prices Newsletter.

For those readers who are also interested in the nuclear power sector you may want to subscribe to our Free Uranium Stocks Newsletter, just click here. 

 

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Post:
 
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>