How far can you trust Larry's calls?

Larry is at it again. This time he is setting the new low for gold at 1050 to 1070 but claims that the rally in gold can not resume until gold hits that low. He admits that the miners are now in rally mode, but has ten stocks to avoid, including FSM and GPL.

Let's review his recs.

1. He predicted that the Stock Market  would fall to 9,000. It did not and his followers incurred heavy losses from buying the bearish ETF.

2. He now says that he got his clients out of the gold stocks at the top. That is not how it happened. He told us that he became bearish on gold in the short term, but not in long term and mid term. He told his followers to stay with their positions, but buy the bearish gold ETFs as a hedge, which did not do so well and hit the sell point. Yes, he did tell us to sell all gold stocks, but by then those stocks were plummeting.

3. He has called for gold to hit a low at 1050, then at 1210 then at 1050 now. He says he is getting hate mail, but I think it is only criticism of him making calls that turn out to be wrong.

4. How about his admonition to avoid GPL and FSM?

Here is the course of the GDX. Larry admits that the miners started rallying.

We see the double bottom beginning about June 26 or so.

Here is GPL and FSM:

We can see that GPL is doing somewhat better than the miners. FSM had a double bottom in April with a retest of the low in May and is on a tear now.

 

 

The problem I have with Larry is that he is erratic and denies his mis calls, acting as if they never happened.