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Richard's Remarks

The problem I face today is that the smartest guys I know are bearish. Against this, the stock market remains in a bullish mode. The bullish mode will continue as long as the Transports hold above 7968. John Williams of “Shadow Statistics” is firm on his warning that the dollar will be under intense pressure in coming weeks. 

Though second quarter GDP was recently revised up, from 4% to 4.2%, which explains why the dollar is strong. Investors all over the world are flocking to the US dollar as a safe place to park their money.

In the meantime, Europe is literally in recession, which is why the euro is declining. When the euro declines, its opposite, the dollar, moves higher.

From the standpoint of asset allocation, my advice continues to be physical silver and gold if possible -- if not possible then SLV and GLD along with the secondary considerations of SPPP ... Log in or subscribe to continue reading.

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