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Jim Sinclair - The Top Callers Have Been Dead Wrong
At the end of another volatile and higher trading week for the metals markets King World News interviewed Jim Sinclair to get his thoughts on where things stand. There are so many who have been left on the sidelines watching gold march higher. They appear to be waiting for a pullback, certain that it will come, so that they may enter positions. Bull markets do not always accommodate. Back to Sinclair, here are his thoughts...
October 15, 2010
Jim Sinclair:
“The Fed has taken so much criticism over the last two weeks about the ineffectual nature of quantitative easing. So in a political sense it was better to low profile it today.”
“We heard of the many secret ways the Fed has to drain liquidity, but none were defined. What we heard today was exactly the same prattle and this is when it took center stage six months ago.”
“The fed absolutely has no choice but for quantitative easing. It is economic death now, or give the can another kick down the road to perdition.”
“Any consideration of a top here is moronic. The top callers have been dead wrong for the last 8 years and they are dead wrong again.”
As I mentioned earlier, bull markets do not always accommodate those who are looking for a pullback. Having said that, it will be interesting to see the action next week in the gold market.
Eric King
