Jim Sinclair--The Sociopaths killing the Euro will turn on the $ soon. Gold to have its first $100 up day before Jan

Jim Sinclair--The Sociopaths killing the Euro will turn on the $ soon. Gold to have its first $100 up day before Jan


With the gold and silver markets heating up once again, King World News interviewed legendary trader Jim Sinclair. When asked about repeated top calls being made in the gold market Sinclair responded, “This is not what a top is made of. I’ve been around long enough, I’ve seen many, many markets, so many I don’t even want to count anymore, and this is not what tops are made out of. Tops are made out of outrageous exuberance.”

“What most people look at, no what almost everyone looks at is a picture in time, something like looking at a still. Up comes the chart, it’s a picture in time. Very few people will focus on motion, direction over time. And you can’t predict the future unless you can see things in motion. So, to the static thinker the picture in time has to have an excuse of why the market did this or why the market did that or what technical thing happened to make it happen. While in truth, you and I know we are watching something unfold.”

You nailed ahead of time the fact that gold would be strong despite strength in the US dollar.

“To look at it in a sort of surgical sense, whenever gold rises in one market, based on currency it falls in another. Looking at the dollar let’s say rising, it has really been taking the downside moderately. I mean it’s (gold) been very, I think, quite firm. More so than you would have expected over the last say 5 or 6 sessions...So the relationship is still there, it is just the overwhelming demand that has taken gold higher in terms of price.”

When will we see the first $100 move in a single day in gold?

“Before this year is out. That is one of the things which I’ve predicated my $1,650 by January of 2011 call on, and we are about to find out.

Look at Harry (Schultz) dean of the whole bunch, he believes that when confidence falls, it falls instantaneously. It may be ebbing and flowing, ebbing and flowing, and than all of the sudden wham, it’s gone! And that will be both the dollar market and the gold market, and it will be in synch.”

cont'd:

[link to kingworldnews.com]