Jim Sinclair - The Takeaway

Recently Jim Sinclair gave an interview to Forbes Magazine which was widely cast around the web. For me, this is the takeaway:

FM: The bear market in gold that began after the 1980 peak lasted 20 years. Where are we in the lifespan of the current bull market?

JS: My first prediction was 15 years, so I was wrong, it lasted 20 years. Right now, in Gann terms, we are at the beginning of the fifth wave. I would say in terms of time, the first possible period for maximizing a price on gold is early 2015. [Currently the market] simply might be the same as when gold went over $1,000 the first time and went back down to $750-$800. That was a shift in Gann terms; we may be in a similar shift right now.

FM: Gann?

JS: I am primarily a fundamentalist, but I have a tremendous respect for timing and timing is technical.

source: Futures Mag

Two Sources talk about the 2015 peak price in Gold, but the price outcomes are wildly different. There may be no easy demarcation between the third wave and the fifth wave,(or stage II and stage III) though the lengthy cosolidation trough feels very much like a major correction. The timing is the same for both:

http://sharelynx.com/chartstemp/GoldeWave.php

http://realterm.de/DAXinGold.php

-F6