Friday, November 14, 2008
This is update #2 for the year-end oil and gold contest - it's been an interesting two weeks since the initial update with the combined oil/gold price now moving away from the congested area of the chart as shown below.
That's the Inscrutable Chicken lying atop the current prices of $57.04 for a barrel of oil and $742.30 for an ounce of gold with a combined error of just 4.2 percent. In second place is Bear Tracks...
Oh what the heck - it's easy enough to make up a table of the top ten.
Yours truly is in position #65 out of 89, far away from the action at the moment, but confident that the little yellow diamonds will begin moving up and to the right in short order.
Really, $57 a barrel for oil? In many placed, you can't pump the stuff out of the ground and make a profit at that puny little price. Of course, the price may get even punier before it begins moving back up... something about a deflationary abyss...
Recall that the winner receives a free one-year subscription to Iacono Research.
Good luck to all.