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Gold/Mining/Energy : Blue Chip Gold Stocks HM, NEM, ASA, ABX, PDG

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From: gold$10k8/5/2011 9:48:02 PM
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The Third Phase In This Gold Bull Market - Jim Sinclair

"$1764 has the same significance as $524.90 because it represents phase 3, the point when a runaway price market for gold would gain exponential properties. Because $1764 is such significant a number you can expect one of the more serious price battles before the price departs to Alf Fields’ and Armstrong’s higher potentials."

I take this to mean that there will likely be a correction first.

"... soon you will begin to see the bearish cabal on mining shares looking for cover where gold will be sold for correct precious metals shares."

I take this last sentence to mean that GDX will begin to outperform GLD. That is one of the indicators that I hope will tell me when to buy back my PM mining and royalty shares. It has been a reliable advance indicator to many previous PM rallies.

jsmineset.com
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