The function of the stock market is to discount the future. I study the stock market all day long, and this is one of those times when all I can say about the stock market is -- that the future is perplexing and unclear. Three items bother me: 1) The Confidence Index broke to a low last week. 2) Volatility has been extremely low but is now inching up. 3) My PTI is saying that this market is heavily overbought and could very well be in a top area.
So what am I to do about it? My answer is that when you are not sure, don't do anything stupid and don't act irrationally. I know one thing, and it is that gold has in all history represented wealth. This is also true of silver. So I have elected to hold gold and silver until, hopefully, I will have a hint as ... Log in or subscribe to continue reading.
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