Ranch, some info.https://www.jsmineset.com/ARhome.asp?VAfg=1&RQ=AR,1&ARList=1&cTID=-1&cCat=&PRID=-1&cSubCat=&Full=1&Archive=&ArtSel=$83$
Thursday, December 19, 2002, 3:07:00 PM EST
Heads Up
Author: Jim Sinclair
Important Communication To Gold Community By James E.
Sinclair
This is the second time, only, that I have asked that an important memo be communicated immediately to the community because of my feeling of its importance.
December 19, 2002
The gold price has appreciated over night. Much of the present activity is fundamentally based on the announcement of the filing of a law suit by the largest coin dealing company in the United States against a major gold producer derivative (over the counter variety) hedger and JP Moran, Chase (JPM). This suit claims that there was collusion in manipulation of the gold price for profit, not in the best interest of the public or their specific public.
Just as when many members of the gold community were in their dark night of the soul when gold was hitting $298 - $305, I am once again making a call to;
Sanity and Professionalism.
STAY DISCIPLINED
TAKE PROFITS INTO STRENGTH
SANITY CHECK LIST:
1/ All professional traders in gold know, without any doubt, that the Comex market is Manipulation Central and has been for years. To deny that is not to demonstrate wisdom but rather to admit that you do not understand the difference between a fiduciary executing an order and a floor showman/women being dramatic in order to affect a price level. The perspective between manipulation and stabilization is in the eyes of the beholder.
2/ The US Jurisprudence system has flaws.
3/ Those flaws are called influence even if just credentials of the accused.
4/ US Jurisprudence is a game of who has the most money and the best talent. Anyone recall
OJ?
5/ Blanchard & Company has to my knowledge approximately $20,000,000 budget for this from a previous sealed settlement of a suit.
6/ One defendant alone in this case has a treasury of over $750,000,000.00 and would spend it all if required to defend.
7/ The defendants will use the absolute best attorneys available for this type of action that practice in the US. A dream team is now being assembled.
8/ Patrick Garver of ABX, who will direct that Dream Team counsel for ABX is one of the toughest, roughest, smartest attoneys in North America.
9/ Both of the defendants are litigious themselves.
Conclusion:
Gold has certain targets. As of the close last evening the major resistance and target I gave you as certain was $348 when the rare, multiyear, perfectly symmetrical Teacup with Handle broke to the upside at, IMO, $324.50.
The $348-$352 range was my price objecting on the first move out of that outrageously bullish formation.
A close over $354.50 gives you $372.00
Stay discipline. Certainly, IMO, for those who have followed my lead do not buy gold shares today. I am going to take my 1/3 sale into strength with the following discipline.
a. Watch the open with no orders in.
b. If my stock down ticks at all just after the open I will start selling.
c. If my situations up ticks after the open I will use the discipline of Power Up Trend Line Break to sell.
d. I will not buy back anything today regardless of what happens.
e. If I sell my 1/3 and it runs, I will laugh all the way to taking my noticed Comex deliver of bullion.
f. You really want to do something for gold then take delivery of one comex gold contract.
Note to the community:
I tell you the situation on all gold matters the way I see it. Do not read into my words any preferences for outcome or side. Unless I speak objectively I cannot help you. The most dangerous advisers today will be the emotional, undisciplined personalities or the web site egomaniacs that roam this community. You want it the way I see it then read me. If you want someone to blow in your ear, O well, I am not going there.
Sad.