When I first became interested in gold in 2005, I was investing what little funds I had in shares like Silver Wheaton and Bema Gold. I did very well catching the late 2005 run, but eventually made a series of emotionally inspiredtrades and lost far too much. Looking at gold almost double from when I began investing in precious metals, I cant help but wonder how much harder I made trading for myself by not heeding Jim Sinclair's daily advice which time and time again has proven correct, if one can only exercise patience and handle the volatility.
I am grateful for the time Jim takes to keep JSMinset.com up and running, and today's post is pure gold.
Write down these numbers:
- 1-860-671-0999 my business cell phone.
- 1-860-364-0645 my home phone.
- 1-860-364-1830 my business phone.
- 1-860-364-1019 my home fax.
- 1-860-364-0673 my work fax.
Every communication must have a callback number and best time to call. If the call goes to voicemail I am either exhausted or on the phone already. I will return each call based on first in first out method.
When leaving a number for callback please mention you are a JSMineset reader.
All I ask in return is that you treat these numbers with respect and me with kindness and understanding.
Call this the "Weary At Heart CIGA Hotline" All calls not answered will be returned within 24 hours.
As far as I am concerned:
- I do not anticipate a one month or more drop in gold. Neither does Monty Guild, so be careful not to read his general commodity comment ass-backwards.
- The worst case scenario is a chop after the low of April 28th set in, and the rally high in the low $950s. Following this the chop gives way to a break above $1034 on its way to $1200 in 2008. Write that down for the dark night of your gold soul.
- Gold is a currency, not a commodity.
- Gold while remaining as a currency is now more tied to the euro than the USDX.
- Weakness in crude, if you can call any price above $100 a barrel weak, helped gold be prone to lower prices.
- Gold’s real help moving lower was a push by COT that triggered the mindless black boxes which are as nuts on the upside as they are on the downside.
- If tonight you curse gold, keep this in mind when it crosses$1034, and please leave never to return.
- Hold my hand when you feel low as gold takes a beating, and when you feel high as a kite when higher highs happen. I will moderate both for you.
- The greatest technical analysis trick is simple to learn. Whatever your emotions say to you is totally wrong. Whenever you want to margin to the rafters it is time to eliminate debt.