I can't fathom why you guys think Skol is right. I'm not going to search the threads for when he started on his broken-clock benevolent-to-the-unwise crusade. But on 26/11/09 he wrote this.
"Contrarian signal, buy gold, gold stocks appearing in newspapers and on the internet, time to bail, seen this all before."
Post #:
5968679
On that day gold was, would you believe it; $1180. So he currently stands correct by the sum of $14 and will possibly be wrong again by tomorrow. But if he was any good he wouldn't have been talking punters out of a $700 run that made many a barrow load of coin. In absolute terms if he was as right as he was wrong back then, gold would need to fall to $480.
Just taking today's status on the right:wrong measure on the broken-clock scale with reference back to 09; by my calculations Skol is 2% correct. Congrats Skol. I'll recalculate tomorrow. Will he get to 2.5% correct or will he fall back to 0%, where he has been for most of the last 5 years.
Skol's commentary is worthless to the market player, as bad as this Shiff character and all those other names he mentions, whoever they are - presumably permabulls that only Skol is reading these days.
No one is correct all the time, you just need to be open minded, more right than wrong, and protect capital . But 2% correct..... what a ripper. Skol has been waiting 5 years to collect $14 per oz on his imaginary trade. If you are going to be a broken clock at least go long - you've got inflation on your side.
