This guy irks me

Bob Moriarty runs a website called 321gold.  All in all, it's a good site.  However, I think he uses his sight to pump his own portfolio far too often.  Unlike me, he has a real following that act on his advice, and thus really affects the share price.

He posted the following a ways back in response to a small time blogger who wanted Bob to post his article to his website.  The article is below:

The date of it is March 25th almost 4 weeks ago.

Bob MoriartyArchives
Mar 25, 2011
Price is always right. Opinions are often wrong. I’d love to take credit for being the first to say that but I’m not.
I wrote recently about silver getting toppy and said that when I saw a temporary top I’d say so.
So. It’s a temporary top. Silver has doubled since late August. It’s gone up about 45% since a small correction at the end of January and all sorts of pundits are claiming that silver is moving from weak hands into strong hands. Silver was up today for the 7th day in a row before collapsing and causing an outside day.
We may have a couple more days of rises but this market is getting pretty tired.
People who bought silver at $4 an ounce or $5 or $6, those are strong hands. Those are the strongest of strong hands. Every person selling silver today as it went through $38 sold at a profit. The strong hands sold into the weakest of weak hands. It’s weak hands buying right now, the guys who made fun of people buying $4 silver.
Ignore the news; silver has no more to do with Portugal and their financial problems or nuclear melt down in Japan than it has to do with the price of kitty litter. Guys reading the news know nothing about commodities or silver. Hell, half the silver bugs don’t know anything about silver, it’s the most over rated investment in the universe right now.
If silver goes up and a black lady won Miss America, the newsreaders say silver went up because a black lady won Miss America. If silver went up and a bullfrog won Miss America, they would dutifully write that silver went up because a bullfrog won Miss America.
Commodites go up and down in a far more random manner than anyone wants to admit. The last time I called a top, I was off by three days and almost $40 in gold. That’s close enough for government work. I might be off by a couple of days in silver and maybe a couple of bucks but I see way too much bullishness.
The next major move in silver is down. A lot more than the silver bulls want to face. When silver permabulls throw in the towel and give up, I’ll be a buyer again.

Mar 24, 2011###Bob MoriartyPresident: 321goldArchives

So, just want to point out that 4 weeks after this self-proclaimed expert called a top, "within a couple of days", he said, silver is still going up.  Has there been a retraction on his website to call himself out?  Of course not.  Eventually silver is going to correct, but it wasn't when he predicted.

My advice for all the experts out there - you don't know jack.  You're just guessing like the rest of us.  It's not the fact that he is wrong that bothers me so much, but rather the way that he said it.  We are all fallable, and the minute you forget that, is the minute you make a fool of yourself. 

Until the next time...

Fiat Doubter