kingworldnews.com / March 1, 2013
Today legendary trader Jim Sinclair spoke with King World News about the gold and silver smash. Below is what Sinclair, who has been actively trading the markets for over half a century and whose father was business partners with legendary trader Jesse Livermore, had to say about what has taken place in the gold market:
Jim Sinclair: “Historically we are at an extreme low. But more so than that, when you are short you have a price objective. If you are a government you have a price objective. That price objective being reached might change the pattern of your trading.
The pattern of what’s taking place in this down market is absolutely clear: At periods every day like clockwork, when the lowest volume of trading historically takes place, the largest amount of offerings have come into the marketplace (for gold), creating a drubbing, a down (move).
Every time there is a major move in a market there will be hangers on, and they are the ones that tend to lose on both sides….