wndysrf Posted January 8, 2004 Report Share Posted January 8, 2004 Jim Sinclair has had this gold market nailed. From his January 6 commentary: The explanation of today's gold price action is simple. A significant fund bombed out of a large and profitable long position starting just under the $430.30 second horizontal resistance level purely on a technical basis. For trading, I sold into the opening for the same reason. If the USDX sits on its rear-end in the deadest of dead cat non-bounces, gold's worst case scenario is $416 on the low side with $419.70 more likely. Today was no big deal. The gold market is a product of the dollar and will not break that relationship. The fact gold got to just under $430.30 has nothing to do with anything outside of the dollar as the common denominator of everything. jsmineset.com Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 Silver at 6.25 again. Damn. pssst... going a lot higher. reloaded silver shares yesterday. metal retracements have less and less depth... believe that's called a BULL MARKET. Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 Jim Sinclair has had this gold market nailed. From his January 6 commentary: The explanation of today's gold price action is simple. A significant fund bombed out of a large and profitable long position starting just under the $430.30 second horizontal resistance level purely on a technical basis. For trading, I sold into the opening for the same reason. If the USDX sits on its rear-end in the deadest of dead cat non-bounces, gold's worst case scenario is $416 on the low side with $419.70 more likely. Today was no big deal. The gold market is a product of the dollar and will not break that relationship. The fact gold got to just under $430.30 has nothing to do with anything outside of the dollar as the common denominator of everything. jsmineset.com he's a marketer... but he's correct as much as disagree with some of his previous antics within the gold community, he's far better at seeing the machinations than the aden sisters, jive clive, and jeffrey kern. even uber gold bull, McCellan is saying gold is very dangerous here. embrace the "froecaster's doubt". they've been rather wrong. jimmy jones sinclair's kooliad ain't guyanan punch. Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 lance lewis fav AMKR getting ripe again... Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 Did you say on fire? Just like 1999 -2000 After Fire comes burnout CRASH on fire? believe you mean ablaze... in debt, channel stuffage and walking dead. Link to comment Share on other sites More sharing options...
Hypertiger Posted January 8, 2004 Report Share Posted January 8, 2004 . . . For the purpose of this paper simplicity is the key, so I have no intent to beat the details to death. The bottom line is this: AMERICA IS SPENDING TOO MUCH MONEY. Just last night Arnold Schwarzenegger delivered his first State of the State Address where he made it VERY CLEAR that, ?Cal-i-for-nia does not have a budget crisis. Cal-i-for-nia has a spending crisis!" We are spending money we don?t have, therefore we must borrow it or quit spending so much money. We have been doing it for MANY YEARS and continue to add more and more debt at record speed. Our trade deficit is running over $40 billion every single month and the Federal Budget deficit continues to grow unabated. To support our incredible consumption machine, the BIS estimates that the USA is now absorbing 80% of all the world?s savings to fund the deficit spending of Americans. This is not a sustainable trend . . . The US has been consuming more then it produces for 45+ years so far...a return to "fiscal responsibility" will wipe out the division of labor and put an end to what we currently understand as civilization in it's present form...it was just as unsustainable 45 years ago as it is now...it is catch 22...Exposure of the truth will implode the system and the implosion of the system will expose the truth... The grim realities are just beginning to become self evident the closer we get to the main event... Link to comment Share on other sites More sharing options...
An Ant Posted January 8, 2004 Report Share Posted January 8, 2004 Gap over 2098 ? Once again this market.... Oh never mind Link to comment Share on other sites More sharing options...
Guest Posted January 8, 2004 Report Share Posted January 8, 2004 IRS officials announced a massive restructuring plan Wednesday, which will result in 2,400 layoffs at the tax agency. http://www.govexec.com/dailyfed/0104/010704a2.htm Date on this was yesterday but I didn't see anything in the news??? Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 Gap over 2098 ?Once again this market.... Oh never mind i wonder how the "market" will swallow japan unloading ust's? rumor at this point, but my guy in japan says get ready. former gsco uber boy, now working at sumi. he'd know. Link to comment Share on other sites More sharing options...
Guest Posted January 8, 2004 Report Share Posted January 8, 2004 Looking for a substantial Afternoon SELLOFF today. ALL the talk of MATRIX being in control of "every" market machination...........is absurd........... Is ....a bigger fool theory born every minute...forever.... I think not......... agree maybe even [-200pts] Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 IRS officials announced a massive restructuring plan Wednesday, which will result in 2,400 layoffs at the tax agency. http://www.govexec.com/dailyfed/0104/010704a2.htm Date on this was yesterday but I didn't see anything in the news??? any good socialist infrastructure uses massive consumption taxes. this post may cost me 5 cents in the not too distant future... ah the cost of enjoying capital stool, it too, shall rise. Link to comment Share on other sites More sharing options...
soup Posted January 8, 2004 Report Share Posted January 8, 2004 mark: Fleck is wrong on the price not on the fundamentals, if the sheep want to continue to believe the smoke and mirrors, well obviosuly the fed is backstopping them. But the fundamentals the pc and cellphones stink, massive channel stuffing. See bby and cc. Link to comment Share on other sites More sharing options...
wndysrf Posted January 8, 2004 Report Share Posted January 8, 2004 1160 is the next spoos target, according to Doc. Today is looking like an island gap. We gap up today, trade up to 1160 in the next few days, then guess what..... Next week is Scam Week. Next week, we gap back down to yesterday's close. Link to comment Share on other sites More sharing options...
An Ant Posted January 8, 2004 Report Share Posted January 8, 2004 Expectation was correction to begin after new year to report gains in 04. Now expectation is earnings reports will be sold. I wonder is it bears finding excuses or bulls setting traps. Link to comment Share on other sites More sharing options...
Guest jrmfl Posted January 8, 2004 Report Share Posted January 8, 2004 1160 is the next spoos target, according to Doc. Today is looking like an island gap. We gap up today, trade up to 1160 in the next few days, then guess what..... Next week is Scam Week. Next week, we gap back down to yesterday's close. gap n crap... 1130 prints and then down bubble, dive bully! Link to comment Share on other sites More sharing options...
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