Sinclair's Buy Orders on Gold

Posted On: Friday, July 18, 2008, 1:45:00 PM EST

Subject: Bids Getting Filled

Author: Jim Sinclair


Dear CIGAs,

I got hit on my $960.10 bid, yesterday.
I got hit on my $950.10 in the early AM.
I am bidding $940.10 for the largest of the buys.

Note that I never bid or offer at a round number. Somehow, I miss the price by $0.10. My habit then is to offer $0.10 above and below depending on what I am doing at the time.

On purchases my first purchase is the lowest amount. My second purchase is a tad higher volume. My last bid is to fill the basket. The odds increase as the price decreases that that price represents the bottom of a reaction.

I don't know if it will go to $940.10 so that is a risk. I know gold is going to at least $1650, however I never chase gold up. I buy weakness, not strength.

All the best,
Jim