<<<That is interesting about Sinclair's sell recommendation - I was not aware of that, and it probably did move the market Friday. Thanks for the information.>>>
Technical Review: Gold & the Dollar after the Smoke Cleared Gold: Looks great to me. To determine the standing of any item you need to look at it long, medium and short. In terms of technical analysis that is monthly, weekly and daily in that order. What those charts read is some minor softness in the daily with the weekly and monthly quite strong.
This week had significant action as gold rose to the key number given you of $354.50 and reacted back into the very low $340s. If you had acted according to the strategy for selling 1/3 outlined in detail in the December 19th Heads Up; you are sitting pretty and unconcerned. If you want the heads up notices sent directly to you email me your web address requesting these notices and you will receive them. If you are holding your 100% core position you should be equally unconcerned.
Trading of gold last USA night reached a high in the international cash market with a momentary quote of $354.50 bid - $355 offered. Does that number sound familiar to you? Recall my suggestion that gold could not move through this level without a Titanic Battle, as there were Titanic Issues in that price and Titans at work in the market.
My review with specific instructions was published on www.financialsense.com and www.tanrange.com before the open this morning. It has a suggested strategy that if followed, would have you out 1/3 of your position at the general high level of today's trading. Those that are on my email list received this directly from my home before I left for my office. Those that did their homework and faxed me overnight had all their questions answered by 7AM EDT this morning.
Emails are now asking, "What should we do?" Well gold is not going to tank, so stop worrying. The rush after the fact to sell gold shares late this morning and all afternoon was the gold community again hitting the exits without discipline or professional approach.
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