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$1 million Gold Bet
- Thread starter Covertibility
- Start date
Quote from trader123abc:
Do you know who Jim Sinclair is?
If so have you followed him and his advise? I have been a long time follower and he has point me in the GREEN direction for over 3 years. To say he has no clue is well, saying you have no clue! Do some research on the guy and then tell me if he has no clue.
So you've been in the green in a raging bull market? I'm not sure I can be impressed any more than I can be impressed by all those fund managers who have made billions over the last few years on equities on an equity run up. All of those guys are going broke now.
Are you going to follow?
Quote from PaulRon:
The gold bears offer no <b>fundamental</b> reason for a top.
If any gold bear has a fundamental reason for gold to go down please state your case but claiming it's a top for technical reasons is not going to fly.
I think you'd be happier on kitco's message forum, or goldismoney. There's a lunatic there named "Axstone". He'd be your best buddy.
I know gold is headed for $1650.
No opinion on the guy's call, but that is an attitude in trading that will eventually catch up with you and get your ass in trouble. No one knows what is going to happen in any market. To operate with the conviction that you know what will happen means that you have ruled out the possibility of being wrong. If you cannot be wrong, then there is no prospect of losing money. No chance of losing money means you don't need a stop and you don't need to limit your bet size. Dangerous path to head down...
So you've been in the green in a raging bull market? I'm not sure I can be impressed any more than I can be impressed by all those fund managers who have made billions over the last few years on equities on an equity run up. All of those guys are going broke now.
Are you going to follow?
I am not asking for you to be impressed!
Nor do I care what you think:eek:
Are you going to follow?
I am not asking for you to be impressed!
Nor do I care what you think:eek:
Quote from trader123abc:
So you've been in the green in a raging bull market? I'm not sure I can be impressed any more than I can be impressed by all those fund managers who have made billions over the last few years on equities on an equity run up. All of those guys are going broke now.
Are you going to follow?
I am not asking for you to be impressed!
Nor do I care what you think:eek:
How fantastic for you. But when you post on a public message forum with a silly statement like that, expect someone to respond. Whether you like it or not.
How fantastic for you. But when you post on a public message forum with a silly statement like that, expect someone to respond. Whether you like it or not.
Silly you! I bet you watched the whole move up :eek:
Now that is silly!
Silly you! I bet you watched the whole move up :eek:
Now that is silly!
Quote from Ivanovich:
I think you'd be happier on kitco's message forum, or goldismoney. There's a lunatic there named "Axstone". He'd be your best buddy.
I appreciate the condescending response but ironically enough I don't believe you can fundamentally justify lower gold... let's hear it and I'll shut up
what is the point of this guy saying this? wtf is the point of betting on a market outside of the market? he could make much more money using that million to leverage up a gold position. this guy should put his money where his mouth isQuote from Covertibility:
Jim Sinclair's MineSet
(Scroll down to April 2, 2008 post - Gold Bears: Put Your Money Where Your Mouth Is)
Dear Comrades in Golden Arms (CIGAs),
In times like these I invite you to put your non-margined hand in my totally confident hand. Be calmed as we walk the wildness of the gold market to $1650.
I know gold is headed for $1650. If that is not enough for you today, then please allow me to demonstrate my commitment to my view of the gold price.
We wish the Fed, the US Treasury and all other central banks well in this process as there is NO other alternative.
KNOW that there are consequences to the increase of non-drainable international liquidity created to craft the appearance that no further major international investment and banking companies will need rescuing.
My position on timing and price is that Gold will trade at USD $1650 before the second week of January 2011.
I am offering a $1,000,000USD wager to a financially qualified party that this will occur within the stated timeframe. Any party on Bloomberg, CNBC or CNN-Business stating an opposite opinion on the price of gold should be informed of this challenge.
Please communicate to ANY vocal bearish so-called gold expert that I challenge them to put their money on their views.
Any commentator unable to financially meet this challenge should not be opining. If they really knew the gold and currency market they could easily meet the challenge.
I am relying on you CIGAs to forward this challenge to any vocal bear, suggesting they stop flapping their lips by putting up or shutting up. It is one thing to hide behind a computer screen. It is another to bet the ranch on the view you promote.
The technical procedure of a serious wager is:
Prove you can in fact wage the challenge by an attorney's letter.
Segregate the funds in cash or near cash kind in the hands of your attorney.
Execute an agreed upon binding contract stating the terms of the wager.
(This offer is void in all areas where wagering is illegal if any such areas still exist in our algorithm-geek casino world)
Respectfully yours,
Jim Sinclair
------------------
Scary cause he's been right the whole way up. $1650 gold would put the dollar index around 60?