Trust me, I was recently having dinner with a bunch of analysts that you would know. I had just read one of his columns and brought out my frustration by saying "what's up with John Nadler?". A collective scoff sound echoed around the table.

He's not just a lightweight. He's a non-weight taking his cues from flip floppers like Gartman who changes his position on gold more often than I change my position during sex or fellow morons like Larry Kudlow (who Nadler always refers to as Dr. Kudlow). Kudlow has a schtick.. that being the patriotic American bull... He probably doesn't even believe himself but he has to keep it up for his audience. It pays well.

Nadler is and never will be accepted by other gold analysts because he doesn't have what it takes. When the club won't accept you as a member all you can do is trash the club. I could call myself a golf pro but any real pro or even amateur would laugh in my face. Sure I might get lucky with a good drive or a 10 foot putt now and again but it's rare and all luck. Same with Johnny. He's been calling gold to go down for 5 years. Guess what? He's been right 2 times but only for short terms. The day he turns bullish, I'm out of gold.