Frank Barbera has been wrong about the impending gold crash since the mid 900's in late October. Why his name is mentioned here other than as a contrary indicator is beside me.

Frank seems very panicky to me. Almost like a child ready to jump out the window at the first mention of the boogyman. He got his tail handed to him once, as we all did last autumn, and now is using that memory to try to predict the future. As I have pointed out multiple times, more often than not, when the general stock market falls or grinds lower, so does the US dollar. Frank is expecting a repeat crash, and I believe he is wrong.

A segment of his newsletter was posted here a few months ago in which Frank claimed to be "up 240% in his hedge fund since 2001." This means he has vastly underperformed both the HUI and gold bullion. Clearly, something is not right for the so-called Gold Stock Technician.

To me, a more levelheaded technician is Dave Skarika, who does a weekly segment on Howestreet every week. While Frank Barbera, Bob Hoye, and Bob McHugh have all jumped out the window multiple times claiming that "catastrophic wave C down has started," Skarika has been fairly cool and calm and right on the money. He is calling for a correction in gold at some point, but not a collapse like last fall.

For those who want to balance their technical view and not follow Barbera free-falling out the window, you can listen to Skarika here:

http://www.howestreet.com/audiovideo/index.php?pl=/goldradio/index.php/mediaplayer/1486

Hysteria