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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: ild who wrote (262028)	9/26/2003 4:04:35 PM
From: maceng2	Read Replies (2) of 436258

I tried to get sinclairs site earlier today but I just got a timed out message. It's been a while since I read his stuff. It's coming up now though.. jsmineset.com Friday, September 26, 2003 Gold Market Summary-The Realities You Face Author: Jim Sinclair There are certain realities to be faced in this gold market: 1/ The gold advisers that issue sell recommendations at specific prices or at specific TA points rather than advising sales into strength as items approach these areas or lose their internal strength, are greater enemies to this Community than the Cartel ever was. They may well be master technicians but they are clueless concerning how markets perform. It is this type of advice that produced the conditions of the last two weeks and the action in gold yesterday. They are so clueless that this comment will get them livid and that is sad because a Community can’t all exit at the same time. This comment does not apply to Harry Schultz and his GRCU, which draws you a picture just in case you do not understand him clearly. 2/ You are getting a first hand lesson on how professionals feed on the amateurs. In a sense, how can I take exception to the pros as it seems the desire of many in the Gold Community is to attend this feast as the bi-monthly menu special. 3/ With the exception of those gold shares that might exhibit poor fundamentals, every single share will trade higher than it is today before Christmas of 2003, mark my words. So if you believe I might just have a feel for markets, consider this as you run for the exits on the advice of your gold advisers. 4/ In my opinion, gold will trade above $400 and reach $430 but no thanks to many in the Gold community who will no longer be in gold when this occurs. It will be thanks to a new crowd entering into gold with no US venue. 5/ I received one fax last night saying that the writer did not sell into strength. He was still fully long in the futures on gold and asked if he should sell or buy more. He said he was terrified and could not sleep. Well the answer is simple: Dear Sleepless in Chicago: You are in a market that you clearly do not understand. The futures market is a professional market with the utilization of extreme leverage. Winners are paid out each day because losers must pay in. You failed to use a professional approach. Your undisciplined greed will bust you if you continue to not think out what you are doing. I cannot believe that a broker opened a commodity account for you. The answer is simple. Sell out and stay out. 6/ Margin kills any non-professionalized person who uses it in gold. Therefore, if you will not professionalize simply stop using margin. You must stop while you still have some money left. 7/This up trending channel in gold has not broken down. It will not break down unless the Gold Community itself accomplishes that for the Cartel. 8/ If you are on margin please read this carefully. You must remain disciplined in the manner that I have taught you at least concerning trend lines. This is a hard fact if you failed to learn anything about selling into strength and are on margin.

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