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Beware of Commonality
by James Sinclair, Jan 13/03
We have commonality between Gold, Silver the Dollar and the Euro that makes me suggest caution to the active bull side speculator in Gold, Silver and the Euro through Friday of this week. For those that are investors, I caution against trading at this juncture in any significant. I have already said to you that the gold market can be visualized as ground is covered with gunpowder and the cannonaires are smoking cigars haphazardly. This thing could fire up at any time due to exogenous events that are everywhere.
A delay into March before the US/British Iraq operation starts will be a logistical error, IMO, and we may find the US with a much more complicated situation disfavoring US interest. Today the spin-talkers tell us that it is great news that North Korea now threatens us with a sea of blood because that is what they did just before we settled the last nuclear stand off with them. OK, it sounds like it has some merit but if it does it is quite miniscule in the "OK to relax" department. Maybe we should get the Korean War agreement finalized first. You have seen the reverse head and shoulders in the US Jobless number so that stands next month on the head of a pin. We can wake any morning to an Invasion of Iraq and then the markets will trade as barometers of the success of difficulties we face day to day.
For investors holding gold related investments as insurance I am hard pressed to suggest they do much trading outside of my help to catch the top of this leg (AKA wave) of the gold market which is in all probability and, IMO, be somewhere north of $400. I have as you know, I have come to recognize that the gold market speculators have as much right and liquidity purpose to be in this community so I have stopped yelling at the dark and will do whatever I can to be of service to them.
The Euro:
The Euro is quite strong on the weekly and monthly which are the charts most important to the hedging investor who is also an investor in gold. Those charts represent the interests of the investor more so than the daily chart.
You can see that the weekly chart on the Euro shows some deceleration of the upside momentum and a little roll over in the MACD. That could mean a slight reaction from the recent strength.
The daily chart for the speculator in Euro show a potential reaction as the Momentum and MACD was lethargic in the move from .9790 to today close at 1.0521
I will be traveling tomorrow on my way up to my Canadian TNX office. If the market needs review be assured I will attend to it from my hotel. Faxes to me Tuesday through Friday evening should be sent to Tan Range Exploration @ 1-604-669-8915 directed to my attention. Urgent emails from the community should be sent to Helen@tanrange.com directed in the subject to my attention.
I have given you a great deal to study over the weekend. Some of it less pleasant to the ears such as the Al Queda - Dollar material, but all events that affect or could affect us demands review. Some of my friends are not at all happy with me writing that up. Let's hope it is a quiet week and the commonality above discussed comes to naught. I feel like I could sleep for a week but that is not the way to succeed for us all.
Click on the following link to view the full editorial including associated graphs: http://www.tanrange.com/s/ChairmansCorner.asp?ReportID=47269
Copyright (c) 2002 TAN RANGE EXPLORATION CORPORATION (TSXV-TNX) All rights reserved. For more information visit our website at http://www.tanrange.com/ or send mailto:info@tanrange.com
