Stole this from baystocks who posted it on SH
Posted On: Thursday, February 22, 2007, 12:25:00 AM EST
If At First You Don't Succeed...
Author: Jim Sinclair
Dear CIGAs,
They are going to try again.
It seems the COT, even though they have had the dickens beaten out of them for always loving the short side, have decided to take the short stand once again, this time between $700 and $705. The commercials could not see an elephant if it was stepping on their toes, which it has. This is an Elephantine Gold Bull Market - stop fighting it! Those words seem to fall on deaf ears.
The beauty of what I have told you is a firm appreciation to $705.10 (we do not have a real close anymore) and $761 is in the bag.
Shame on those who bailed out of their positions in the last eight weeks. We are on the train and it is heading to four figures.
All those entities that were in first class will be back in first class.
Sleep well. Gold never sleeps anymore.
Posted On: Wednesday, February 21, 2007, 8:42:00 PM EST
Gold and Dollar Market Summary
Author: Jim Sinclair
Dear CIGAs,
Gold is never easy so do not consider the ease for the longs today to be the beginning of a new age. Gold is going to $761 now, but be assured it will attempt to shake you out at every turn. Gold cannot stand trend line breaks without putting on a show and a half. What I am saying is sharpen up. Do not let your guard down traders.
The bottom line for traders is keep your guard up. Gold should have launched from the Platform the first time but opposition tried to kill both the move and the Platform in one session. They failed. The price held at the Platform and firmed into the evening without any spectacular action.
The shot at the moon started at 8:28AM this morning as the shorts started to get squeezed. The first Black Boxes started to fire, causing a chain reaction as floor traders scrambled for cover. If you feel today was a big move hang on tight. Before this is over gold will range $150 or more in a day in three moves intra-day.
The mantra is gold is headed for $761 - $887.50 and $1000 with a bull trap, then $1650. For investors that means sit back and enjoy. Don't let anyone shake you out like what happened to many foolish gold investors in the last six weeks.
stockhouse.ca;
regards,
John |
