re: Sinclair Spam & Bottom Calls...
Frank, there was a neat little MarketWatch piece a while back, where the writer very kindly pointed out how many bottoms ole' Uncle Harry & Mr. Sinclair have called...and how they then morphed from the Kings of "Buy & Hold and don't you dare sell, or get shaken out"....to a classic after-the-fact revision of - "you've got to trade goldstocks"...
Now this is Sinclair's 3rd, 4th, or 5th bottom call in the last 90 days I believe (ROTFLAMO)~ not to mention his futures call of DOUBLING DOWN each $1 tick down from the $350 GOLD "BOTTOM CALL" - @ $349, $347, $346 etc...
- do the math on that trade ~
The guy announces (read HYPES) his "INTENTIONS" (...something about the road to hell, comes to mind...) to buy $1M of TanHype.com... ante's up for less than 1/10 of that and prompty get's his ass handed to him to the tune of 30%+ in his own stock !?!?!?
- if the SOB can't time his own damn stock - why the hell would anyone listen to him on Bullion, or broad sector goldstock calls !?!?!?
Sinclair spams another BOTTOM part IV call & the stocks promptly roll over to the REDZONE once again....
WHODATHUNKIT ?
Hedge Fund managers must love this guy...
*** Let's be safe out there and not step into any "VOLCANO's" people ****
PS: Where's Mr. Volcano ?
- can't take the HEAT of REALITY
...far better to move back under the porch with the rest of the Chihuahua's, where they can blow smoke up each other's asses and never have to answer for how damn wrong they've been.
HUI 115 isn't holding...as it has no reason to....was never a key reversal support area... but, 105 thru 95 is...and that's where we be headin'....when, not if... simply too many Perma-Bulls held too long and will soon begin to feel enough pain to get shaken out...and all those who bought dips at 130, 125, 120, 115 for a "trade"...will begin to stop out imho.
FWIW - there are NOT - ANY major Gold Savy Hedge Funds buying $hit here... already sold long ago, are either short here, or waiting for the coming shakeout...
There is ZERO, NADA, ZIP volume on the buy side in goldstocks here... look at the South African's here people... DROOY @ $2.15 off of $5.88 - needs nearly a damn TRIPLE to get back to it's highs...and is THE POG levered play - as it's cash costs are so high... if DROOY is leading the el' dumpo parade.... it's telling you something about expected POG levels.
Commercials got so short POG - because they not only saw WHO was buying, but WHY they were buying the rally thru $390.
$305-$311 is where big, longterm money will come back long bullion... not before imho...and in the HUI; 95-105 is where that same big, longterm money lies in wait... untill then it's just spec's and small traders making noise, blowing smoke and getting whipsawed.
ciao` |
