Should a bank writing down $5 Billion be thought of as GOOD news?
*JSMineSet, by Jim Sinclair, April 18, 2008
“Gold is going to at least $1650 so investors take heart.
Citicorp only loses 5.1 billion in the last quarter.
Talking heads cheer Citicorp’s earnings because Citicorp lost less than predicted by the Street, declaring now that the OTC derivative problem is over. Talk about world class BS!
Euroland big wigs jawbone the US dollar saying, “Hey, we are jawboning so listen to us!”
A little help from its friends and the dollar rises against the euro.
The Gold Cherubs get the top.
The up trend line breaks down as the electronic market takes over and voila, gold is off $30. This is not brain surgery.
Gold is a trend line situation, simple and straight forward. It will only experience greater and greater volatility.”
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