Jim Sinclair - Hathaway Correct, Gold Shorts to get Squeezed
Tremendous fear remains in the gold market, even as gold has recovered from recent lows to hit the $1,640 level. Today King World News interviewed legendary Jim Sinclair, to get his take on the situation. When KWN asked how his father, Bert Seligman and Jesse Livermore would have known we hit a bottom in gold, Sinclair remarked, “There would be two reasons why: Number one, you can’t identify, especially over the last seven sessions, where that demand was coming from which began to give the gold market an entirely new look. Secondly, they (Bert Seligman and Jesse Livermore) also had a strong feel for tops and bottoms in terms of momentum at extremes.”
Jim Sinclair continues:
“A bottom is always the way it was as John (Hathaway) called it, complete and utter despair in both the futures market and in the share market. In my experience, in all my time I’ve been in markets, I’ve never seen a more negative impact on holders of an asset than what occurred in this last takedown in gold.
This is a very professional market, a market anticipating something of significance, and market which is totally devoid of those who took the psychological collapse.”
Sinclair also had this to say about the end of the year plunge in the price of gold: “It was an operation. Add to that a very determined, strategized operation to profit on the short side.”
When asked about John Hathaway’s call for a short squeeze in the gold market, Sinclair replied, “I think John is absolutely correct. It’s highly technical, it has to do with the lease market and the swap market. It also has to do with the recent setup of the line of swaps between the Federal Reserve and the ECB, the ECB and the European banks and the European banks and the European bond market....
Continue reading the Jim Sinclair interview
Jim Sinclair continues:
“A bottom is always the way it was as John (Hathaway) called it, complete and utter despair in both the futures market and in the share market. In my experience, in all my time I’ve been in markets, I’ve never seen a more negative impact on holders of an asset than what occurred in this last takedown in gold.
This is a very professional market, a market anticipating something of significance, and market which is totally devoid of those who took the psychological collapse.”
Sinclair also had this to say about the end of the year plunge in the price of gold: “It was an operation. Add to that a very determined, strategized operation to profit on the short side.”
When asked about John Hathaway’s call for a short squeeze in the gold market, Sinclair replied, “I think John is absolutely correct. It’s highly technical, it has to do with the lease market and the swap market. It also has to do with the recent setup of the line of swaps between the Federal Reserve and the ECB, the ECB and the European banks and the European banks and the European bond market....
Continue reading the Jim Sinclair interview
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