Wow, this is deep stuff,
From Jim Sinclares web site, He comments,
You have to admit the price of gold today got its own legs. That puts the $1000 level in the bag on the assumption that Angel #2 is bettered. Keep this firmly in mind. Make a note and post it up on your pin board. When the price of gold closes above $1000 you are walking into a medium term BULL TRAP. You will forget unfortunately, but I will not!
Today was certainly a GREAT day for the gold price. Today it stated matter of factly, “I am the currency of choice.”
Once again a major congratulations is in order to those in gold and gold shares that ignored the self promoting chat sites (with the exception of www.cometgold.com of course), the spammed free advice with pretty charts and the gold price top callers since $248. You have not run off the cliff like the army of gold investor lemmings.
The major PO is $1650. In my opinion it will most certainly happen. What will your investment be worth then? Keep in mind gold shares will transit now to asset value as well general business behavior just like they did in the 70s.
That is when Durban Deeps’ crappy reserves gained value and the stock which started at .36 cents went to $36. Randfontein had the same experience. What is the difference between 1968 to 1980 and 2001 to 2012? The answer is NOTHING!
AI
