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Estonia Welcomes The Euro

Submitted by Tyler Durden on 12/30/2010 15:18 -0500

Presented without commentary

 

 

JSMineset’s Track Record

Posted: Dec 30 2010     By: Dan Norcini      Post Edited: December 30, 2010 at 2:48 pm
Filed under: Trader Dan Norcini
Dear Friends,
Most of the emails I have received the past couple of weeks that are related to Jim’s prediction of $1,650 gold in January of 2011 have been gracious and have expressed heartfelt appreciation for Jim’s steady hand of guidance over the past 7 or so years. The deep admiration for Jim’s selfless giving of his years of experience in the financial realm, has shown through so many of these emails. It truly is an uplifting experience to read them. For those of you who have taken the time to do so, my sincere and heartfelt thanks.
Sadly, there are some who instead of focusing on the nearly flawless track record that Jim has secured over these past years in providing general price levels that would act as signposts along the way of this now decade long bull market in gold, have chosen to carp and criticize because gold is not within a $100 or so of Jim’s price prediction for next month. To those of you who are so small minded and so ungrateful for the many benefits that have been freely given to you by my dear friend, I can only say that perhaps you would be best served by going elsewhere for your regular reading on the state of the gold market. It is evident that some of you are far wiser than the rest of us and are much more in tune with the gold market than Jim can ever possibly hope to be.
I would also suggest that since the world is in such need of your acumen and wisdom, you start up your own web site and provide your commentary to all free of charge, all the while maintaining the cost of servicing that web site out of your own financial resources.
The rest of us mere mortals, whom will benefit from such knowledge that drips from your lips like ripe pomegranates, will then have the luxury of watching you put your money where your mouth is, AHEAD OF THE FACT.
Here is the truth – those of us who are professional traders make our living IN THE MARKET, not OFF OF THE MARKET. We have to possess the courage of our convictions and put our money on the line every single day. Sometimes we get it right; sometimes we don’t. The key to measuring success in this business however is not how we make out  on each individual trade but rather how we do on our collective trades. If we are right more often than wrong, we succeed and thrive. If not, we are soon gone and looking for a different profession. Those of you back seat drivers who are only brave enough to call a market after the fact would do well to remember that before becoming too full of yourselves.
Here is wishing all our readers, even the jerks, a Happy, Safe and Prosperous New Year. Thank you for the many kind words of encouragement and appreciation that we have received over the past year. I do not know what the year that lies ahead holds for all of us, but one thing I am certain of, the policies being advocated by the current Federal Reserve, and those being followed by the ECB and the BOJ for that matter, will not end well for anyone. If printing money into existence was the path to lasting prosperity, nations far wiser and of more duration than ours, would have long ago discovered it. History, unfortunately, is not on the side of such things.
Dan

In The News Today

Posted: Dec 30 2010     By: Jim Sinclair      Post Edited: December 30, 2010 at 6:02 pm
Filed under: In The News

Jim Sinclair’s Commentary
Illinois is akin to a trader who would seek a loan to meet a margin call. The loans is not going to do any good unless the underlying problem is fixed.
The Formula is still in charge everywhere and nothing is fixed. I would not lend those funds at 20%

Quinn Weighs $15 Billion Bond-Sale `Option’ to Close Illinois Budget Gap By Tim Jones and Darrell Preston – Dec 28, 2010 1:44 PM PT
Illinois Governor Pat Quinn is considering borrowing $15 billion to pay overdue bills and balance the biggest budget deficit in the state’s history.
The plan is among a range of proposals that Quinn is discussing with state lawmakers as they prepare to return to Springfield Jan. 3 for the final days of the legislative session, said Kelly Kraft, a Quinn spokeswoman.
Illinois faces a budget shortfall of at least $13 billion because of declining tax revenue. The state Senate in November didn’t have the votes to approve the borrowing of $3.7 billion to cover pension-fund contributions for the fiscal year that ends June 30.
“We are working on a variety of options,” Kraft said in an interview today. “Nothing has been finalized. We’re talking with legislators on both sides of the aisle. Our goal is to stabilize the budget.”
Senate President John Cullerton and House Speaker Michael Madigan declined through spokesmen to say if the bond sale would draw enough support to pass.
More…

Jim’s Mailbox

Posted: Dec 30 2010     By: Jim Sinclair      Post Edited: December 30, 2010 at 2:35 pm
Filed under: Jim's Mailbox
The Gloves Are Off
CIGA Eric
The talking heads showed no hesitation about pushing fear and doubt for gold and silver in 2011 before the Christmas holiday. At the time silver was in the process of testing upper channel resistance as support. This unbelievably bullish technical setup, an outcome that I had flagged as extremely important in previous commentaries, is hardly the backdrop of doubt and fear.
Yet another example of why investors must develop their own “voice.” The game of money, based on doubt, fear, greed and misdirection, cannot be played on tips or earshot advice.
At one point, I said when upper channel resistance has become support in silver – “The glove come off.”
The gloves are off, people.
Silver ETF (SLV):

When a trend breaks a linear representation, it tends to goe higher-order into what is known as a plateau move.
Silver, London P.M. Fixed:

More…

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