With sentiment among the precious metals community remaining downright terrible (to see just how bearish the current sentiment is, peruse the reader comments on today’s silver chart of the day) legendary gold trader Jim Sinclair continued his efforts tonight to convince PM investors to sit tight and be right.
Sinclair again informs readers that the gold boys (bullion bankers) will soon flip their naked short positions net long, propelling gold to $3,500 an ounces (Doc’s note: and silver likely to $90).
Sinclair states that legendary 10+ baggers will be seen in the mining shares sector, and that precious metals investors must stare the bastards in the eye and defend themselves- by simply being right and sitting tight.
For the first time ever, the legendary gold trader has advised metals investors to go ALL-IN on further price weakness!
Sinclair: Stare the Bastards in the Eye and Defend Yourself!
From Jim Sinclair:
I am at the airport going to the mid-west on corporate business. I have been handled, touched and am without my shoes. That is so infuriating because we all know it is more political than preventive. We all know it is to help you learn to surrender your freedom for false protection. We all know it is part of making totally redundant the US Constitution.
I see the US dollar is headed back towards its line in the sand at USDX .7900. It gets hard to manipulate gold in the face of a weaker dollar that is going to get much weaker.
It is not easy to stare the bastards in the eye. Soon the boys will nail a huge long position if they already haven’t and the manipulation to and above $3500 will take place. Soon your shares will be what the hot shots call a ten and more bagger.
Screw the manipulators on the short side. Stare them down or do not look at the smart phone or quote machine. March will be totally different.
Now I board the cattle car to be insulted at 30,000 feet, just like at the airport at ground level.
This gold and silver reaction is coming to an end. In a few weeks it will be ancient history. Defend yourself by DOING NOTHING. Those of you not fully committed, go to debt free into a full position on any further weakness.