Loading ...COMMENTS ON ARMSTRONG FORECASTS
Armstrong is different as many sites quote him and really give the impression he has an economic model that works. If it would be all that easy, he would be trading gold and/or Spx futures and not selling advice. Same like Charles Nenner, who is giving nice advice, I tried the trial for 1 month, but could not see any added value.NOTE: If anyone would like to take this to the Cafe Chat Board to open up discussion, please do so…
Hi Bill,
Could you post this on forum, I would like to open discussion or people’s mind about gurus forecasting gold.
Armstrong recently made statements about gold going to $1000 or lower (875 or $650).
http://www.traders-talk.com/mb2/index.php?s=60ef25b1eabdbe718237bea152d1dd85&showtopic=156243
However, several years ago he was rather bullish on gold:
http://armstrongeconomics.com/…..1-7-09.pdf
Therefore we should be very careful in believing Armstrong or other forecasters. Reading that old PDF from 2009 it seems we should be higher in gold right know, and going up as he saw the possibility for $5,000 gold by 2015. (quote from 2009)
His economic cycle topping in 2015 and going down into 2020 seems correct as I still see enough positivism in economy and think we are now as in 2007.
I do not want to criticize any people making forecasts, but there are several people on the Internet like Bo Polny, Rosen,… all making bullish statements on Gold and asking money for it.