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Richard's Remarks

 

Oil has been crashing. As I write, one hour before the close, oil is trading at 68.77. The stock market views cheap oil as a plus for consumers. The Dow is only down 23 points as I write, while the Transports are down 236. As I see it the big picture is bullish for the US.

 

As I write, gold is selling at 1211.60, up over $40 for the day. Silver is up almost a dollar, trading at 16.49. The volatility in gold has succeeded in knocking almost all holders of gold out of their positions. There is currently a huge short position in gold, a short position that is becoming increasingly nervous. And a running of the shorts could be near at hand.

 

The crash in oil is another indication of deflation. One thing is certain: the Fed will be putting off any thought of increasing rates, a situation that the stock market and gold both ... Log in or subscribe to continue reading.


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