I'm betting my bagel on Sinclair

Cara today:

"Gold stocks are the caboose in the market train and the last car over the roller-coaster peak. The Toronto Composite index has taken a hammering this week, down yesterday -103 (-0.74%) to 13966 and the Toronto Venture index was even worse, falling -38 -1.50% to 2479.

Some of the junior miners have been beaten up, and the picture is no different than the stock charts of 1981-2. I suspect it will get worse, and the high-cost, high-burn rate, weakly-financed juniors are in for more downside. This is the time in the market when even stock promoters for the juniors have to look themselves in the mirror and decide to stop drinking their lemonade. I wouldn’t want to be in many of these stocks without (i) confidence the picture was going to change, and (ii) my margin was cleared, and my outlook was long-term."

Sinclair last night:

1. Gold can have significant reactions at any time yet whatever gold is to do on the downside should complete by the first week of May. As far as gold shares are concerned they should reverse by May 8th at the latest even if gold is still chopping for a bottom.