I have been following Bayou's advice. I re-mortgaged the house, shorted GDXJ, shorted NUGT, and bought DUST.
Needless to say, I am in the red BIG TIME.
Now my wife is threatoning to leave me and take the dogs with her. I don't mind her leaving, but have grown found of the dogs.
Should I continue following Bayou's advice?
He seems like a smart fellow, thought for sure he was right GDXJ would go to 12. Granted that would mean it would be yielding something like 10% and be at levels to the metals that is far below anything ever witnessed... But his pizzaz, self assuredness, and bull headedness made it seem like he knew what he was talking about.
I also checked out this 321Gold site Bayou was always bringing up. I ran across this article by some guy named Adam Hamilton today.
It has a bunch of technical mumbo jumbo I don't really understand, but he says Bayou was just part of the panic capitulation this summer and gold stocks are going much higher?
Think I have heard a saying like that at major trend turning points before, something like be wary when "self proclaimed gurus start coming out of the woodwork".
Surely Bayou isn't one of those types of guru chaps. I don't remember reading anything Bayou wrote that pointed to a bunch of technical mumbo jumbo like this Hamilton fellow, Bayou just told it like it is, down to 12, case closed.
I have been following Adam Hamilton for years, his analysis of the psychology of market participants is nothing short of brilliant, I think he is the best commentator on the precious metals markets bar none.