Friday, December 11, 2009
With just under three weeks left to go before the end of the year, here's update number three for the suddenly, much more exciting "Guess the year-end price of oil and gold" contest.
After declining for the last three weeks, the price of crude oil, at $69.87 a barrel, is now well below the average contest guess of $70 a barrel. Similarly, gold's two week downturn leaves it at $1,115 an ounce today, well shy of the average guess of $1,144 an ounce.
The top ten spots are shown below - an entirely different group than last week for reasons that should be obvious - with DEL, APB, EEngineer, and GW occupying the top four positions with combined errors of less than four percent.
Yours truly vaulted from out of nowhere to position number 7, a big improvement over the last two contests where the top ten was never seen after doing quite well the previous three or four times. All things considered, I wouldn't mind being out of the top ten with those guesses - preferably a position on the chart well left of the yellow diamond indicating today's prices.
Recall that the winner will receive a free one-year subscription to the companion investment website Iacono Research , valued at $159, where the model portfolio had its first big down week in some time but still sports a respectable year-to-date gain of almost 17 percent.
There will be one more update next Friday and then a winner will be announced a week later, sometime around New Year's Eve or New Year's Day.
Good luck to all!
To learn more about investing in natural resources using commonly traded ETFs,
stocks, and mutual funds, see this description at Iacono Research.For subscription details, click here.