A Jim Sinclair rants
in response to
by
posted on
Jul 25, 2008 05:26AM
San Gold Corporation - one of Canada's most exciting new exploration companies and gold producers.
Very good advice for those concerned about SGR's daily price gyrations and a good foreshadow to where we might be heading?
Dear CIGAs,
“US CFTC CHARGES DEFENDANTS WITH 'BANGING THE CLOSING PERIOD' OF OIL MARKET TRADE”
Are you totally blind?
Today you read a post from Trader Dan concerning chart painting, but you still continue to push the panic button, letting yourself be bamboozled by those short the junior gold shares.
This day’s action has all the markings of the MANIPULATION resident in the commodity markets.
This gold reaction has no legs. The third try at $1000 stands right in front of us.
Even the most gullible market on earth, the US equity market, has barfed out the spin on Fannie and Freddie costing only $25 billion. The suggestion that it may cost nothing at all is laughable.
Even the Spinmeisters are running out of gas.
The housing market seems as if foreclosures will only end when every house sold in the past three years is foreclosed on.
The job market is unwinding.
Every pro knows the recent bank earnings are accounting legerdemain. All reports on bank earnings are far worse than the figures show.
The greatest test of the credit default market will be the bonds of GM, GMAC, Ford and Ford Credit.
The bottom is starting to fall out of credit card payments.
Today has all the earmarks of a Hail Mary play in the juniors hoping to break the back of investors.
Look at the HUI which shows you the “BANGING THE CLOSING PERIOD” of the junior golds. The cheapest gold entities are the bombed out juniors that are real companies not starved of operating finances with viable properties. They will appreciate 1000%.
Before you break out your razorblade kit and head for the bath look at the HUI and know gold is going above $1000 very soon.
If you do not see what is happening then you are totally BLIND to how you are being bamboozled!
Please read the following before you weep:
I have given you my phone number in order to help you in difficult times.
In respect for what I and my dear my friends are trying to do for you, please READ this site FIRST and make efforts on your own part to find answers. Those that inundated Trader Dan after reading my email to you last evening are either downright lazy or just mean.
Those calling me tonight in a total panic over juniors should simply NOT be in any investment ever, especially gold.
Those sitting in their bathtubs with their razor blades at the ready don't call me in order to vent. Instead bail out at tomorrow's opening, sooner if possible, and forget all of this. Buy Fannie's and Freddie's old debt, put your money in Indymac, WaMu and Wachovia via long term dollar CDs and be happy. Maybe you would like some of those cheap financials. I hear Bloomberg talking heads saying financials are really good to buy now that the debt crisis is behind us.
Those calling me tonight without the patience to read these postings must have an agenda of driving me to drink. Each caller looks only at their favorite junior, declaring it different from all other sector participants while quoting what Gartman is doing.
When have we failed to address all the criteria of any given market day here on the site? By 9pm EST you have the majority of what occurred that day readily available for you to read. On particularly significant market days, Trader Dan and Monty Guild are quick to share their perspective on the major stories of the day.
For the rest of this evening I simply cannot answer any more "Negative Nelly" calls. This time you have successfully taken me over the top.
Print at least two copies of the following points in at least 32pt font. Post one copy above your computer monitor and the other by your phone: