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Jim Sinclair’s Commentary Predictions: 1. Gold reacts as currency support for the dollar enters mid June to a slow decline (that is the official definition of a strong dollar policy, really). 2. End of 2nd week going into the beginning of the 3rd week of June Gold launches towards and this time through the neckline of the reverse head and shoulders formation. 3. Gold rises to $1224 where it hesitates. 4. The OTC derivative market takes on the dollar as short sellers into dollar support. 5. This OTC derivative currency short position builds. 6. It is the US dollar where Armstrong will get his WATERFALL. 7. The main selling takes place when Israel makes a major miscalculation. 8. Hyperinflation is always and will continue to be a currency event. 9. Hyperinflation will be a product of the upcoming massive OTC derivative short dollar raid. Should I be correct in the gold price action going into late June, it will fit Armstrong’s criterion for a move to $5000. Alf’s work permits an over-run of the gold price to $3500 in the major 3rd phase, indicating overruns into the major 5th.