Pundit's Perspectives – Thu 6 Jun, 2013

Gary Savage feels that if the U.S. dollar goes where it very well could we could be knocking at $1900 gold by this Fall.

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Featuring:
Gary Savage

Comments:
  1. On June 6, 2013 at 7:44 pm,
    "Dutch" says:

    Gary:
    I agree with you, but I am of the opinion that the down trend of the dollar will last of an extended period.

    Dutch

    • On June 20, 2013 at 9:40 am,
      clarkatroid says:

      do not do not do not buy a subscription from this fella. he swings wild pitches (gold to moon) ( trouble or treble your portfolio in 12 months) to suck you in. he removed his portfolio performance record because it was so so bad.

      charlatan

  2. On June 6, 2013 at 7:50 pm,
    gary says:

    This is just the beginning for the dollar decline. It should end with a yearly cycle low in Oct or Nov. Then some kind of multiweek bounce. But next year is the time we should get the next major 3 year cycle low. So as violent as the decline this year is going to be, next year is going to be much much worse.

    Next fall is going to be a major currency crisis in the US dollar.

  3. On June 6, 2013 at 7:53 pm,
    Keep Stacking says:

    Thanks Big Al and Gary. I’m ready for $1900.00 gold.

  4. On June 6, 2013 at 9:42 pm,
    Pibe says:

    Here goes again. Ihope everybody realizes that GARY SAVAGE is an impostor and a mercenary that only cares about raping people off by selling nonrefundable subscriptions

    On June 6, 2013 at 8:30 am,
    Sean says:

    Guys, be careful with this so called Guru-Gary-Savage. He lost the shirts of his subscribers in the last 6 months. Spent some time to dig out his previous posts at http://smartmoneytracker.blogspot.com/

    1) When he has a hot hand 2 years ago, he used to labeled himself as Best-Hedge-Fund-Beating record.
    2) And he ridiculed anyone that think Gold/Silver market is manipulated. He said Market Supply/Demand + Mother Nature will only squash any manipulation and will only result in higher Gold bull.

    Now he lost his subscribers base immensely, and looking for new blood to feed on. And he now actively promoting that Gold got beaten is ALL due to MANIPULATION!!!

    Phew. Run away from hypocrite Gary.
    Reply to this comment
    On June 6, 2013 at 3:04 pm,
    Pebete says:

    I can just talk as an ex-subscriber and I am going to repeat myself here: Why do you keep paying attention to this guy Gary? (horrible investment advice and record, lost money for all his subscribers, awful timing). Seriously Why? Every time he predicts something the opposite happens. GARY CONSISTENTLY LOSES MONEY FOR HIS SUBSCRIBERS – DO NOT EVEN ATTEMPT TO FOLLOW WHAT HE RECOMMENDS BECAUSE YOU WILL LOSE MONEY. This guy is dangerous since he is not only losing money; he is also inexperienced, in denial and arrogant. You know what he told me when I started questioning him more than one year ago? That my comments were too negative and that he would start using them as a contrarian indicator! Nice way to treat a subscriber eh? That was more than a year ago! When the HUI was around 450. That’s why he had to close the comments section in the “unpaid” portion of his website –because people were complaining too much- and now he is calling us “trolls”. This guy deserves to be taken to court!!
    Reply to this comment
    On June 6, 2013 at 4:06 pm,
    Mark says:

    Pebete, he was long the HUI well before 450. Kept saying we are in a new A wave, then a C wave, all the while, positioned in the worst place possible. A blood bath.
    Reply to this comment

  5. On June 6, 2013 at 11:09 pm,
    Blake says:

    Pibe,
    I have been a subscriber of Gary’s during the period you are referring to and your rant is wrong in so many ways but I have better things to do than spend any more time on it.

    • On June 7, 2013 at 3:11 am,
      Pibe says:

      Don’t worry Blake I have time for answering your comments,

      I have been following Gary for more than 2 years (not just one) and I can tell you with TOTAL certainty that this so called GURU is nothing but a delusional mercenary gambler that is solely concerned about getting money from subscribers and proving himself right. This guy is so full of himself and arrogant that it is pathological. Now he is so desperately trying to prove himself right again (after losing most of his subscribers) that he is predicting $ 1,900.00 gold by this Fall. Just wait and see. But don’t worry he will find some kind of excuse to justify why gold did not make it to 1,900.00 -a right or left translated cycle maybe? Manipulation? a tornado? He is -once again- proving that he is nothing but a narcissistic gambler.

      • On June 7, 2013 at 4:47 am,
        JERRY the Long..................O^OTB says:

        Pibe…..thanks…for taking the time….that is what I call sharing,,,,and that is what this site is about….for we all do not have the same experiences, but, try to assist each other the best way we can………….SHARING IS CARING…………..OOTB

        • On June 7, 2013 at 4:50 am,
          JERRY the Long..................O^OTB says:

          Oh,,,,,also,,,,be prepared to back it up………As Ronnie Reagan said….”TRUST BUT VERIFY.”…………have a great day……………….ootb

      • On June 7, 2013 at 8:16 am,
        impeachknucklehead says:

        Here’s the secret recipe for knocking on $1900 gold this fall: You buy some “safe from confiscation” 19th century numismatic gold coin at about $6789, safely store it in the underground tuna can bunker, and just before selling it for $1900 this fall, you carefully knock with your knuckles.

        • On June 7, 2013 at 11:10 am,
          JERRY the Long..................O^OTB says:

          impeach….did you get a new moniker…………..?

          • On June 7, 2013 at 12:48 pm,
            impeach says:

            Yeah, I somehow wasn’t prescient enough to save it for Al’s entry on Mister Holder, though.

          • On June 7, 2013 at 3:26 pm,
            JERRY the Long..................O^OTB says:

            I think you should use it again…..it is kind of funny…..I like it……..

  6. On June 6, 2013 at 11:32 pm,
    Jason says:

    Not sure why anybody would invite Gary S. for an interview. Shouldn’t he be invited due to an above average track record? His performance as a forecaster is worse than poor. And yes, Pibe is sadly correct with what he is saying. And Blake, not sure what you think your time is worth spending on, but assuming you’re spending it on following Gary’s forecasts, you’re tragically wasting it. I predicted in 2011 that Gary’s blog would take the same course as the blogs of other self proclaimed know-it-all did before; and that is exactly what happened. His blog went from lively to no comments allowed to the final stage of hardly any blog posts. He’s a one trick pony who capitalized on what used to be an obvious bull market in gold; but now his trick is toast.

    • On June 7, 2013 at 5:23 am,
      JERRY the Long..................O^OTB says:

      Jason….. being a one trick pony..does that mean…HE IS NOT A” HOT SHOD.” anymore………….ootb

  7. On June 7, 2013 at 4:25 am,
    Bobby says:

    I too have difficulty with the “cycle” forecasting. Facts show that the US dollar is the go to safe haven play, whether or not we goldbugs believe it. I would like to hear some defense from All as to why this guest was chosen given the above stated track record. Are we just seeking “sunshine on a cloudy day”?

  8. On June 7, 2013 at 6:54 am,
    benb says:

    I think Al and Gary got together somehoiw and Al presents Gary as an opinion to be considered, which is the same as the other TA guys.
    There is also the opinion here that TA is pointless as the market is manipulated.
    But Al pretty much encorages everyones opinion.
    I dont think I would consider any opinion a “rubber band” bet,(wish I had more than once) but I have seen some pretty acurate stuff.

    • On June 7, 2013 at 8:19 am,
      BJ says:

      TA highlights where and when the manipulators enter the market; it paints a picture of the manipulation. However the the manipulators use TA to calculate how much intervention is necessary to trip sell stops. So there is knowledge to be gained and profits to be had by reading the technical the major players and market manipulators paint into the charts. The wild card is the randomness and caprice of these scoundrels. In a truly free market, TA would be of more use as a market predictor. Nor can fundamentals predict where and when the manipulators enter the market.

      What honest investor would’ve ever predicted the audacity of the Fed and its Wall Street cronies. Who could’ve ever predicted the scope of the criminal activity then and ongoing, specifically fraud and institutionalized insider trading.

      Since none of that is going to change any time soon, the only worthwhile debate is if fundamentals can overcome what’s being put upon the world by those who enjoy prosecution immunity because they’re too big to fail. Frankly I don’t think they’re too big to fail; they’re just too powerful to be controlled. They control our government–it’s called fascism.

      • On June 7, 2013 at 9:00 am,
        benb says:

        I agree 100% BJ.
        Personally I am hopeing the internet shows “akmed the baker” and “joe six pack” that it is not they that want this corruption and war, that all of us pay the price of these psychopaths.

        • On June 7, 2013 at 11:17 am,
          JERRY the Long..................O^OTB says:

          BJ…..I also, have to agree on the govt. and fascism…..,but, sooner or later, they get their just rewards………..As, one other person said…..there are approximately 5000 of these idiots out their and the universe is beginning to get very small…..as the Russians have now defected , and the scheme may be out in the open…..sooner or later Johnnie Six Pack, is not going to take it any more……..People are starting to wake up……

  9. On June 7, 2013 at 8:22 am,
    Roger Ramjet says:

    I as well am a “ex subscriber” after listening / reading absolutely non sense from this guy for months. His analysis has been 100% in “la la land” for nearly a year, making mistakes at nearly every single turn – and advising his plebs to purchase “options” that continue to expire worthless. I seriously can’t imagine how much money he’s lost hid current subscribers.

    For a time a fellow “Forex Kong”challenged his views and provided some hope, but he was kicked out of the subscriber base….as his calls / remarks where completely opposite this Gary idiot – and bang on week after week.

  10. On June 7, 2013 at 8:51 am,
    Mark says:

    I am also a former subscriber getting in at just the right moment to lose big because Gary has become delusional, and I bought into his delusions. My fault though, not his. I was naive and used Gary’s confidence to excuse my stupidity in following him.

  11. On June 7, 2013 at 9:02 am,
    jhpace1 says:

    Nobody can be expected to be “right” or “wrong” in technical analysis as long as the market is manipulated. It’s like having a doctor watching a video of a man walking along the street, dodging the occasional pedestrian or lamppost, while an EKG is shown. Unbeknownst to the doctor, the EKG is really that of a beyond-his-time prize fighter fighting his last fight in the ring ending with a TKO. Nothing the doctor sees will match the EKG! And that is how I feel about this market and technical analysis.

  12. On June 7, 2013 at 9:53 am,
    Pibe says:

    jhpace1: “Nobody can be expected to be “right” or “wrong” in technical analysis as long as the market is manipulated.” We are not talking about being wrong or right. We are talking about a delusional narcissistic mercenary that only cares about getting money from subscribers and he never admits that he screwed up big time!! Gary: Just be honest and admit that you suck at what you do, be humble and refund the money to your subscribers!! And getting back to your doctor example: Would you sue a doctor for malpractice? I guess the answer is Yes!

  13. On June 7, 2013 at 10:42 am,
    Roger Ramjet says:

    Another golden example of brilliance from this guy – he posts “this link” from his home site! A link with literally post after post after post after post of “ex -subscribers views of this moron.

    That’s what I call brilliant – a direct link from your main page to a blog /comment roll that reads like a horror film.

  14. On June 7, 2013 at 5:55 pm,
    Fred says:

    Al Korelin – retired old fogie who walks around with 2 open wine bottles 24/7 kissing anyones feet who tells him that gold and silver are going up, up and away. He’s not the brightest bulb on the tree, he’s not the prettiest baby in the nursery, he’s just… uh….uh….uh…. he’s just Al.
    Trader Rog – guy who has never gotten one gold and silver call right and has no idea what time of day it is except when its time to play with his little poodle. I feel sorry for that poodle, I really do.
    gary savage – his brain is caught in a permanent washing machine ‘cycle’ and doesn’t know which cycle its in let alone the cycle for gold and silver. Arrogant little prick whose a blood sucking savage beast parasite for subscriber fees.
    Doc – sounds like he raided the pharmacy and took one too many meds to try and forget about all his bad trades on gold and silver. The doc needs a nurse real bad. Better yet, a night with a hooker to get Doc’s blood flowing once again.

  15. On June 7, 2013 at 10:44 pm,
    Jay says:

    I agree that Gary is a terrible trader. His subscribers got SLAMMED in 2012/2013. He claimed he could easily generate 20% returns with his Model Port, but eventually had to replace it with an “Old Turkey” (Buy and Hold) version after the port got hit with huge drawdowns. His predictions are no better than wild dart tosses. His risk managment is nonexistent. He lifts stops, and doesn’t like to hedge…and when he does hedge it’s usually near a bottom with a double-inverse ETF. He also pulled a stunt where he lost 5% of his capital by going long TVIX 10% position and it got cut in half. He bought SLV and GDX calls last year, and this year, and those are getting slammed at well. He’s good for entertainment only. He’s very arrogant, and his newsletter is mainly good for comedy value only. He also bans subscribers who point out Gary’s poor performance and his mistakes.

    • On August 15, 2013 at 8:38 pm,
      TS2S says:

      Everything Jay says is exactly correct. I am a former subscriber, too. Gary ridicules those who follows the technicals. But if I had watched them instead of Gary, I would have sold at the silver highs in 2011. You are better off with a technical platform – any will do. Stockcharts is free; I have TD Ameritrade ToS; some like the IBB platform; watch for a positive crossover on Full STO AND RSI on monthly FIRST; then followed by weekly; then followed by daily. My settings are at 10 or 8 instead of traditional 14; this makes them more sensitive.

      Gary works one-way; gold is only going up, up and up!!!

      I wish he used his experience to ride the gold wave down as well. This would provide great value to subscribers but but he just doesn’t do that. Gold is only going one way and if you disagree with his arrogant attitude, you can just leave his website. Wow. I wish I could make 160k a year by being stubborn and arrogant. Anyone here want a nasty wife? 🙂 JK.

      If you bought into DUST (as Stock Almanac suggested in Nov/Dec of 2012 (The author even admitted that the limit buy was never picked up b/c it skyrocketed), you would have had at least a 3x if not 4.5x profit when NUGT fell off the cliff while Gary was kissing his gold all the way down the mountain. Former subscribers know what I am talking about 😉

      After following him for 2 yrs. and using him as one of may guides and not my only resource (thankfully) I had to LOL when the traders on the very public and free CNBC Halftime accurately called the bottom in late July 2013 after I bought in to upside calls on SLV using my indicators that Gary ridicules. He will be right during the next A wave; he will miss the opportunity to short the B wave decline, and he will again (unfortunately) attract more subscribers for the C wave b/c when you are always bullish, at some point, you are right.

  16. On June 8, 2013 at 1:39 am,
    BrutusMaximum says:

    I have been a former subscriber as well and can verify the poor timing and track record that Gary had. Nobody is perfect but when he started to compare himself on a risk adjusted basis to top hedge funds with billions under management he lost all credibility with me. Many of his predictions, just like my own will come true at some point but for trading or investing purposes useless. What is the point when your timing is off by a couple of month , no risk management however sophisticated will make up for that. He has unfortunately nothing to show for with regards to performance for 2012 and 2013 YTD. If he had, I would show it to the world on my blog for everyone to see but since many of his calls are open to extreme interpretations with regards to actual trading or execution, to publish a performance track record is nearly impossible. I can understand why so many subscribers left him and feel betrayed

  17. On June 8, 2013 at 7:18 am,
    sucker says:

    i have read garys blogs for the better part of 9 months and almost every thing that is posted goes the other way.i dont know how you can call your self an expert and be so wrong all of the time.I now feel like i have missed genuine opportunities in equities.I really hope garys thoughts pan out,but I have my doubts.

  18. On June 8, 2013 at 1:14 pm,
    Joe Sue says:

    Please don’t knock Gary. I use him as a contrary indicator. Long US Dollar, stocks, short gold. He has made me a mint!

    Go Gary! I would gladly pay $1000 a day for his recs. to fade.

    • On June 8, 2013 at 1:53 pm,
      Mark Alan says:

      LOL!! Now THAT is a great example of how to turn a lemon into lemonade! Great Job Joe Sue! Finding the silver lining in a dark cloud is better than fighting against the storm.

  19. On June 8, 2013 at 5:25 pm,
    john says:

    i disagree. gold charts indicate that the sentiments are heading lower.
    furthermore, the US economy is getting better.
    india’s currency is in trouble and will affect much of physical purchases in india.
    meanwhile, in china ppl will watch the gold charts.

  20. On June 9, 2013 at 6:08 am,
    Tiho says:

    LOL gary is a joke. This dude has no shame. He is destroying his readers’ accounts. Does he not feel guilty spewing his stupidity and charging for it. What a con man. Plus he was mean to Toby.

    So funny, Gary bottom ticked the market with his “CRASH’ comments. Great job Gar-gar. Go climb a rock and lift some weights, you degenerate, scum.

    • On June 9, 2013 at 10:04 am,
      Pibe says:

      Hey Tiho!

      Welcome again to the family intervention to restore Gary’s to sanity. The problem with him is not that he is delusional and in denial but also so full of himself. The problem is not that this poor thing is still trying to prove himself right so he can restore his mental sanity. The problem is not that he was ripping off people’s money and giving ill investment advice and charging for it. The problem is not even never admitting that his analysis is just pure bullshit based on building castles in the air and portraying wishful thinking as serious technical analysis. Not to mention his arrogance based on the fact that he has good selling skills and he was able to persuade lots of people that he knew what he was doing. The real problem is that we bought his castles in the air and we even paid for it! So long story short: when you follow delusional people and you even pay them to get into their delusional world you feel like a moron; that’s the real problem.

  21. On June 9, 2013 at 7:59 am,
    Roger Ramjet says:

    I still can’t beleive this guy has this page linked directly from his home page, as any new or “potencially” new customer is directed to these comments.

    It’s obvious that he’s given up – as who in their right mind could allow this to continue another minute – let alone another day.

    Those poor subscribers that are still holding on.

  22. On June 9, 2013 at 8:54 am,
    john says:

    i listened to this below Solid interview yesterday.
    learn from this mark guy!
    http://thedailygold.com/twim-2a-mark-leibovit-on-precious-metals/

    and good luck !

    • On June 9, 2013 at 10:42 am,
      Pibe says:

      Sounds good. Good interview!

  23. On June 9, 2013 at 9:13 am,
    Price Maker says:

    The only show in town is Forex Kong at http://www.forexkong.com

    • On June 9, 2013 at 10:19 am,
      Pibe says:

      Price Maker,

      That article you mentioned is just another “hope” for gold bugs. I believe that gold will shine again but (I believe) that new highs will happen in 4 to 5 years (silver included). There are still a lot of gold bugs hoping for higher prices in gold and silver and they will have to give up before the bull market resumes -that’s just how markets work-. So – I have been saying this for years now; since I bought all of my gold below $900. Just store your gold and wait; there is no rush. The only time when I really screwed it up was when I was following delusional Gary; other than that my investment is still sound. Tiho has good free serious technical and financial analysis; Armstrong Economics has some serious economic and cycles analysis (This guy has been around forever). Take a look at what he says about the macro economics and how the dollar is still rallying due to being the only reasonable game in town – It makes totally sense from the macro economic point of view- Long story short: Dollar is rallying, gold is still in correction mode; we are NOT going to see $ 1900 gold this fall and Gary needs to be hospitalized.

  24. On June 10, 2013 at 12:33 pm,
    Basil says:

    The worst is not that Gary is shamelessly delusional about his own understanding of the markets and skills as a trader. What’s way more sad, however, is that he was idolized by his subservient blog followers for exactly the bullshit he kept putting out.
    He IS the proverbial dumb money and he is tracking his own dumb ideas.

  25. On June 11, 2013 at 2:24 pm,
    Ben says:

    On May 27th, Gary wrote in his blog, “…Yet despite thousands of years of evidence that parabolas are never sustainable”

    WHERE is he getting “thousands” of years of market data? That, my friends, is either a typo, or a true delusion.

    I am a former subscriber, too — 1 year. I was amazed at how much trading he did, and how people were sleeping with their phones to get the tweet to “get out now!” I argued with him several times about his “get out now!” post about equities, which since then have gone up about 30%.

    http://smartmoneytracker.blogspot.com/2011/03/get-out.html

    Check this out: http://smartmoneytracker.blogspot.com/2011/12/gold-is-on-verge-of-moving-into-bubble.html

    that was over 18 months ago.

    Dollar teetering on the abyss: http://smartmoneytracker.blogspot.com/2011/11/we-all-better-hope-im-wrong-on-this-one.html

    He always argued that ‘cycles never fail’ — this is true, you can always look backwards and assign the cycles so it works out. What he doesn’t tell you is that cycles have no predictive value. It’s only after “rephasing” that cycles appear to show any predictive value, and the rephasing is because “they didn’t do what we expected” etc.

    I surely hope it all works out for his current subscribers, but frankly, I did far better before I subscribed to his service. He always sounds so cocksure but really throwing darts is about apt.

  26. On June 12, 2013 at 9:32 pm,
    Basil says:

    And now he’s just quickly put out two more posts on his dumbmoneytracker blog (after previously taking months between posts) only to cover up this link so that no one else gets the idea to come here and leave comments to embarrass him. Anyway, he truly deserved the mockery. What a douchebag.

  27. On June 13, 2013 at 3:46 pm,
    john says:

    Also, regardless of how USD goes, i.e. the USDX/DXY index, it is virtually
    impossible to reach $1900 again as gary said. First, there are too many
    resistanceS, Secondly, investors have become scared due to recent
    downwards movements. Thirdly, India/China physical buying will not push
    it even above $1550, imho.. as they also want to buy at a Lower price.

    • On June 13, 2013 at 3:47 pm,
      john says:

      my prediction: $1100-1200 in a few months.

  28. On July 8, 2013 at 4:50 pm,
    mandip says:

    Savage is totally clueless. Was a subscriber over last year and he was completing wrong about the entire market. Worse than Elliott Wave people. Very arrogant like previous posters mentioned. Stupid and arrogant is not a good or profitable combination.