Sunday, November 29, 2009
This is update #1 for the year-end oil and gold contest and, over the last week, the little jog down and to the right in the graphic below clearly belies the market volatility seen in recent days as the previously soaring gold price plunged some $50 on Friday before staging a big recovery. Crude oil, on the other hand, has seemed like a one-way bet recently.
At this point, CS, RA, and frequent commenter Ted S. are in the top three spots, each with combined errors of less than four percent, but a lot can happen over the next five weeks. Note that CS's guesses are to the left and up a bit from the 11/28 yellow diamond reflecting the current $1,167 gold price and $76 price for a barrel of crude oil. Since the x- and y-scales are different in magnitude, vertical and horizontal distances are not equal in percentage terms.
Recall that the winner will receive a free one-year subscription to Iacono Research (where the model portfolio now sports a year-to-date gain of 21.1 percent) and complete details about this contest can be found in the links within this post from about a week ago.
Good luck to all!