Put your pants on

Get it? Put your pants on? (or perhaps maybe cover your shorts?) If you spent the last 2 months walking around with a cinder block on your back, I bet when you took it off you'd move pretty quick too. Most of the shorts on gold have historically been in the 960 level. I'd imagine there are a few at 980 and probably the most at 1000, as everyone now knows gold will begin to fall seconds after each time it touches 1000. The best part about the action in gold today is the fact that the dollar isn't even down. It's been up or has broken even all day. Today the market is being very clear. The dollar is crashing, and at these levels of worth(lessness) in the dollar, gold is under priced, due largely impart to the shorts, make them have to cover, and watch out. So congratulations everyone we have now taken my favorite support point, 960. (It's my favorite due to the fact that it's a big point to have the shorts cover at, its a very strong support level with little over head resistance other than 980 which is not as rough to take as 960 is, and of course 1000 itself, and it's $10 closer to 1000 then to 900.) So 980 is the next target. If you want a great picture as to why a hit at 980 would be perfect, read Bob Hoye's article at 321gold at this link.. http://www.321gold.com/editorials/hoye/hoye080309.html

If you watch the trend lines, the top is at 984, give it a few days for gold to consolidate before we get there and it will taper off to 980 by the time we do. A break through this trend line would be so insanely bullish, you might just miss 1000 altogether if you make the mistake of blinking.

Now, I must note, that we want to buy into weakness which is bound to come soon on the part of gold. So if your partly in cash and in gold, perfect. You can buy on weakness and begin tapering off into strength as you make some money. (might I add, being invested in gold is so incredibly important, yes but you should always have some cash. It helps on the dips.) Anyway, the time to sell is not now, and the time to buy more is not now. If your shaving off some shares into the immense strength in gold now that's fine.

Onto the dollar. Nothing really new it's holding at its last point possible before 76. If 76 is realized, I believe a breach of 1000 will be too.

So now moving onto the stocks. Specifically my new one I recommended GSS. I recommended that and said I will be buying it on July 20th. It was 2.32 at the time. 1000 shares would be $2,320. The day I wrote about what is going on with the company it was at 2.45. It has hit a high today of 2.63 and I assure you it will be headed higher. That's a $340 dollar profit from when I first mentioned them, and a $180 profit if you waited for me to give you the "low-down"...thats just SO FAR!! I will reiterate, My target for this breakout is 2.70-2.75. $3 is not at all out of picture if gold raises to 980 or even 1000. (I bought it at 2.36 btw, yeah that would be some nice money there.)

We still wait on the TRE but at least its now at 3.12.

RSI is getting topped out, so the rest is all up to the dollar. things will most likely back off the highs by the close. Tomorrow is up for grabs.

We've done well!

-J

P.S IAMgold is reporting on Thursday, I highly recommend you pay attention and listen to the conference call, as that will be my next big play.