Reading this morning’s missives from the punditocracy, I couldn’t resist pointing out a perfect example of what Gata’s Bill Murphy calls market action making market commentary. As gold leaped higher Tuesday, we had Kitco’s Jim Wyckoff struggling for justifications, including this gem:
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