By SRSrocco:

I plan on writing an in-depth article with this title when gold takes out $2,000 and silver $50.
After a while I just get sick and tired of reading the same garbage coming from so-called precious metal analysts that are intentionally confusing and misleading the would be gold and silver investor.

The three bears I am referring to are the following:

1) Jeff Christian
2) Jon Nadler
3) Ned Schmidt

Last week when the bullion banks took down gold and silver big time on Friday, Ned Schmidt wrote this from his newest article BLACK HOLE FRIDAY:

On Friday Gold seemed to have no bottom. This reaction is both typical of the breakdown of a parabolic formation, and is rarely reversed in a matter of days. Gold is going to be very vulnerable to selling, and buyers may be few.

Gold broke down in the charts on Friday morning, and that damage may not be repaired for some time. Though we remind that markets never move in straight line and that some bounce off an extremely oversold condition is always possible.

As a discontinuity, we can almost throw out that part of the chart before Friday. And contrary to the suggestions of some, chart damage did occur. The break below $1,700 is readily apparent in the chart. All the trading above that level in recent times is now over heard supply that must be cleared. A complete rebuilding of the chart is necessary, quite possibly from lower levels.

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I wrote Ned today to tell him that again he probably should have waited a few days before publishing that article so he could save face with his subscribers.  I also let Ned know that when silver hits $50 and gold $2,000, that I plan on publishing an article crucifying those who got it so wrong.  This was Ned’s reply:

Silver at $50. When the Easter Bunny arrives. You had better wake up!!

 

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Furthermore, on Nov 6th, Jon Nadler came out with another one of his IN THE LEAD articles and you are never going to believe what he had in the body of the text:

Last Friday’s near-$40 plunge (it was the largest one since June) in gold prices resulted in a dramatic reassessment of the bullishness that had pervaded the speculative crowd’s mindset since before the advent of the Fed’s QE3 program.

Veteran gold market analyst Ned Schmidt was a tad more…blunt with his take on Friday’s events and where they might now lead. He wrote that “Until this [Friday] morning the [gold] market was assuming that the Federal Reserve would keep making QE-3 bigger and bigger. That belief was supporting gold, even though it had already rolled over. Note our past comments on how the mini parabolic had already been broken. We have noted several times that the failure of this pattern is always associated with pain. Friday was that pain.”

Mr. Schmidt then went on to assert that “As is evident to today, Gold seems to have no bottom. This reaction is not going to be reversed in a matter of days. Gold is going to be very vulnerable to selling, and buyers will be few.

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I know I am a broken record, but I get amazingly frustrated by these CLOWNS who are only writing articles on the metals to intentionally mislead the investor and not to give FAIR AND BALANCED writing.

I can’t wait until gold hits $2,000 and silver $50 so they can eat crow.

IT WILL MAKE MY DAY…

  1. @SRSrocco

    Ha ha ha that funny Steve and im glad you have Jeff Christian on top of that list. Just prior to the last $35oz pop in silver and all reports of all countries were in contraction. Jeff was doing interviews that silver & gold bubble was popping and that he is putting his clients money palladium or platinum I forgot. Anyway he was seeing a boom in auto sails world wide just before the contraction of all prodution Gold jumped $80+ Silver popped $6    

  2. Ha ha ha that funny Steve and im glad you have Jeff Christian on top of that list. Just prior to the last $35oz pop in silver and all reports of all countries were in contraction. Jeff was doing interviews that silver & gold bubble was popping and that he is putting his clients money palladium or platinum I forgot. Anyway he was seeing a boom in auto sails world wide just before the contraction of all prodution Gold jumped $80+ Silver popped $6    

  3. HO ? your name is Don Quiote (SIC) ? Jousting at windmills ?  Having a battle of wits with the unarmed ?  Confronting those bringing knives to a gunfight as their main weapon ?
     
      Ya know man, I love  your writing but ye gods, simply put those guys should be pro-scribed from reading by anyone with half a brain…..
    WTF ?  Nadler? a pathetic joke.  Christian ?  A known liar !  Schmidt ?  Always wishy-washy, and losing subscribers. You could include Maunde but he is IMO, a known Bi-Polar.  
     
        However, you must chalk these guys up to being perfect contra indicators.  We know that 1650 is the floor in gold and that 30 is the cost of production in silver.  We know that these guys take every pain to screw up the charts and shortly after they do, it comes right back as if they were not even there !
     
       Truthfully, Rock, you now know why I dont read FA or GURU Spew, for with FA its dead the minute the ink is dry and with GURU SPEW, for everyone right there are two wrong and you cant tell whom they are at any given moment.
    The only one that has not given me bum info is the market which is why I do TA, KNOWING that TPTB screw with the charts.  Once you know that, you can use TA to read btwn the lines.
     
    Good Take,
    Best,
    DG
    http://www.denaliguidesummit.blogspot.ca

     

  4. Someone has to be dead wrong and it might as well be these three shills. The problem with 24 hour finance reporting is that there is often not 24 hours worth of finance news to report. We have to remember that the shills have followers that have payed for some guru to tell them what to think because they can’t think for them selfs,so why not create some doubt and controversy, all it does is make their jobs a lot easier,after all they have write something right

  5. I’m also annoyed about the financial “experts” with their gold and silver’s prices predictions. They are wrong 99% of the time and they keep changing their predictions so that we would all forget about the older predictions. They keep repeating the obvious thing!

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