It's not only CNEX that got hammered!
The short on gold alone, is UNBELIEVABLE! How long will they get away with this? Sooner or later they have to cover, and then you will you see an unprecedented naked short cover on both gold, and the mining stocks. The mother of all shorts will soon end, gold will double and the world will be chasing the mining stocks. I only own mining stocks, and all 6 dropped 20-30% at the same exact time yesterday. I was shocked, as I watched the drop. Talk about discouragement. Time to wipe the sleet out of my eyes, dust myself off, and get lots of dry powder ready......GLTY
Here is a post that sums it up,
Posted by sprattnikie,
As I posted this morning...after all the fuss here today focused on ? about SFMI...here is what the reason is for today's take down...and the franitc, obvious effort by the shorts...as gold hits all time highs in all currencies...not just for SFMI...for all the JPMs:
Here is what is at the bottom of it all and why we have seen such a focused blast here from the short detractors of SFMI...for it isn't just SFMI...it is the PM/JPM sector in general...and this pretty well explains it all...these guys are going to lose bigtme...as per Jim Sinclair:
"Dear CIGAs,
The hedgies and dirty tricksters are back.
Frustration goes both ways. The price of gold has been a disappointment to the gold bears. The action in the HUI (AMEX Gold Bug Index) has posed a threat to the short on gold share hedgies and dirty tricksters.
This morning’s pop up on the euro was accepted by this mangy group as the forth entry of emergency money into the currency market in the form of intervention. That message was taken by this group as confirmation to hold the euro at $1.2150 Gold’s failure to hold the highs of this morning has been taken by the discouraged gold and gold share shorts as courage to try one more time.
Discouragement goes both ways. The gold share longs have felt it for a long time. The gold share shorts cannot be too happy either.
So in rolled the short of gold, gold share hedgies and dirty tricksters to re-establish closed short positions and add to old ones.
This time it will be different.
Different because the short of gold and gold share hedgies are fighting key dates of the long term cycle now.
Different because MOPE (Management of Perspective Economics) is not having the desired effect on business activity.
Different because every weak member of the euro will be lambasted by the rating agencies, the IMF and the CDS tool.
Different because California, larger than any of the weak euro members, is heading for bankruptcy.
Different because the US dollar claims strength by basking in the euro problems, not because it has fundamental value for price.
The wind is not at the back of the short of gold, gold shares hedgies and dirty tricksters. $1650 is certainly coming. About that there is no question in my mind. More so, the short of gold shares and dirty tricksters no longer live in the dark, but are rather public figures to management and major shareholders of their respective issues they have offended for the past few years.
Their jitney (trans-border false flag brokers) partners do not hide their identity.
There is a balance in all things and retribution will be dealt out by us, not them.
AI
