["now at rock-solid 200day Moving Avg support"]?
...as oppossed to $350 having been "rock solid support" earlier ?
...then $340, then $335, then $330 ?
...as oppossed to Sinclair's Pied Piper, Line in the Sand - call to all other "Deer in Headlight" Mega-Hypester Gold Bulls to double down at $349, $348, $347 ?
Then there was his Hypester Call on buying $1 Million of TanHype:
["VANCOUVER, March 20 /CNW/ - The Company confirms that the first tranche of the proposed private placement by James E. Sinclair, the Company's Chairman and CEO, announced on March 7, 2003, has now closed. Such tranche consists of 58,480 common shares having a purchase price of $1.71 per share for proceeds totaling $100,000."]
...well, he only put $100,000 instead of $1m where his mouth was....TNX.TO now down to $1.11 intra-day from his $1.71 purchase price....nice timing by Sinclair 'eh ?
The Gold-Hypesters have now seen more "bottoms" than an Indian Proctologist working in Bombay.
HUGE downside volume today in Goldstocks...Look at the leaders:
Institutional fav' NEM - 7 Million+ shares to the DOWNSIDE...shattering the 200 dma.
The POG levered names like DROOY just decimated from the tops ...DROOY at $2.33 now needs a double+ to return to former 52 week highs of $5.88, AEM @ $11.53 needs 50%+ to return to $17.90, MDG @ $10.55 nearly needs a double to return to $20.88; unhedged, levered fav's like HMY @ $11.49, down from $19, GFI @ $$9.65 needs nearly a double to $17.15, RGLD @ $13.08 needs over a double to return to $28.80...and the silver stocks like HL @ $2.86 needs a near double to return to $5.90, HL @ $2.86 needs a double+ to $5.90...etc
MeThinks that it's now time for some of the Gold-Hypester MegaBulls to find a nice, deep, dark, cavernous VOLCANO in which to hide...
NOT A PRETTY REALITY SINCE THE MAY/JUNE 2002 INITIAL TOP
- nearly a year in dead/down money...and most goldstocks now need a 50% to 100% move to return to former highs.
Bullion now down nearly $70 from the recent high.
Reality's a bitch sometimes...
- just ask Saddam.
...watch out for those Bunker-Buster's now Jimmie~
ta-ta~
PS:
...here's a couple of TA Charts off of Puplava's site...now, I now that Puplava is no longer in the Sinclair "Deer in Headlight" Club for allowing Prechter's opine on Gold on his site...but, here's an Elliot Call for the XAU and another on the HUI & XAU.
financialsense.com
financialsense.com
financialsense.com |
