1000 again

Gold is at 950 right now. So that always triggers the debate of which will come first, the test of 900 or the test of 1000. Honestly I think we could be waiting till September before we see 1000 again, but that is the target in sight. I said yesterday that today we'd either "fall" or "stall" it appears to be the latter. If you sold yesterday good for you. This is one of those situations were you should sell half and ride the other half just to cover your bases. If that's what you did, your other half should be safe today. A pullback will come, you can bet on it, "Those who stand against us" will not let gold travel upwards unopposed. There are times when they brutally slaughter us, just keep this in mind: Although there are a good number of honest and legal shorts on gold and it's stocks, the slams we've become so used to are not. Naked, illegal shorting, in mass quantities. While the on going inflation/deflation argument continues, who would take the amount of money required to slam gold down the amounts we've seen and run the risk they might be wrong? (See above) TWSAU. ("Those who stand against us") I hope you understand who I refer to when I say this. Those who have the most to lose if gold continues upwards. (Not to mention those that have the financial means of trying to harbor it from doing so.) No, I'm not a conspiracy theorist. (well maybe a little) I have seen it. Massive selling of gold I mean were talking millions of dollars. If gold is 900, why would you dump 5000 oz on the market at once? If you hit it with 1000, the price will be dented but then recoup to 900 again. Then you sell some more, and so on. If you hit it all at once by the time the last of it sells, your getting 15 dollars less for it per oz! Man whoever doing that sure isn't looking out for their clients best interest! (Unless however, violent drop in price meant to scare you into selling low too, is the point.) I kid you not, pay attention to the Comex (Crimex as Jim Sinclair has coined it.) You'll see. You won't even have to watch long either.

The point is, that we buy gold as a hedge against government spending. The more money they print, the more gold goes up. Then they get worried about gold prices and come in to slam it down. (There by spending money they don't have, meaning they have to "create" more, and all together negating the purpose for why they do it to begin with.) They cannot change the trend, they can only prolong it, which they have been good at. But the more they continue to the more they lay down the bedrock for why gold will go to over $5000 oz or higher.

The moral my friends is to be patient. Don't get discouraged when you see this, its ok, just smile and recognize what's going on as TWSAU are incapable of seeing. There digging their graves for you. Buy on such slams and embrace what is to come.

And be careful out there, we're about do for one!

-J