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Posted On: Monday, March 03, 2008, 8:58:00 PM EST
Gold and Round Numbers
Author: Jim Sinclair
Down to business:
- Gold has never made it thorough a round number without a battle. You may recall every 100 points since $248 gold battled at each $100 mark.
- To assume we are going through $1000 with ease can only occur if my $1650 magnet is so low it is silly.
- I don’t assume that.
- The real number is not $1000 nor $1050 but rather $1024 with a maximum over run of $26. You may recall I suggested the run to $1000 was going to be as straight up as markets can perform.
- I would expect a break above and then some rotation around $1000 until the third day above $1000. Following that it is off to $1650.
- I will give you more minor angels as we move past $1024.
- The ratios long the majors and short the juniors sold as an OTC derivative by the same geeks that have brought you the end of the financial world as we knew it, also produced the gold share ratio spread.
- This spread is starting to contract now as the majors decelerated their climb and the juniors in the main have decelerated or ended their decline.
- The US dollar has been for a long time and is now totally hopeless.
- The price objective on the downside of the dollar is .5200. It will get there.
- Gold is going to $1650. Remember this. It will get there.
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No commodity share is going down when the underlying asset of the company is going to establish at least an appreciation of 665% from the low. The geeks only look at the momentum of a spread once again forgetting a thing called a market. When the recent OTC derivatives skewing a market explodes, as it will, the juniors will fire out of their silo like an ICBM, doing nuclear damage once again to those criminals and their overloaded laptops.
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