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RE: Some People Simply Don't Get It! A Rant From Gregory Mannarino

in #money7 years ago

I watch your stuff quite religiously and have learnt from it, thankyou.

It wouldn't have hurt to point out that you got the oil call wrong, I saw the logic in what you were saying and I made a bad call on oil too, I honestly agreed that the potential for OPEC and the FED to boost it as they have done time and time again was there, still is. But currently I'm bearish on oil and just going to stay out of that trade because too many unknowns.

I am curious whether oil going lower or higher is better for gold. I guess higher is good for gold and mining costs go up and gold supply decreases, however a detractor from this is that higher would also mean stocks become more attractive than gold and oil is an indicator of economic growth so perhaps the two factors would negate each other. On the other hand gold miner stocks should go up if oil gets cheaper as it's 25% of their operation cost and all gold needs to do is trend sideways or even slightly lower. Thoughts?