Jim Sinclair has been talking about a "Countdown To The Implosion Of The Dollar" for quite a while (click here).
Here Jim Sinclair reveals what his "dollar countdown" has been about:
Dear CIGAs,
October 30th the Fed is planning to curtail QE regarding Treasury auctions.
November 4th is the FOMC meeting most likely to contain discussions of timing for the exit from economic stimulation.
November 7th is the G20 meeting at which BRIC nations will anticipate a cessation of QE and a commitment to establish a currency alternative to the US dollar...
So fasten your seat belts because our long discussed rock and hard place will be reached shortly.
Can the Fed provide the Chinese with their demands of middle July at the USA/Chinese Washington Financial Summit in a deal to buy US Treasuries so as to let the Fed back off their US Treasury instrument auction QE?"
I thought it was interesting to finally find out what he has been talking about with his count down. I have mixed emotions about the guy, but one of the things I like is that he has made specific, testable calls. On the down-side, his "This Is It" and "This Is It And It Is Now" calls have pretty consistently been made at temporary gold price highs (when fear is running at a fever pitch). The way to deal with the gold market is to buy when the fundamentals remain good but when sentiment is bad (like yesterday). Buying breakouts has not seemed to work well (particularly for short plays with tight stops).
MontyHigh, www.worldofwallstreet.us
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