WINNERS AND LOSERS
Except perhaps from a marketing/spin point of view, it does none of us much good to pretend that the markets we’re interested in have treated us well in recent months. If we’re being honest about it, many (but not all) of us at Dow Theory Letters have for the most part recommended being out of the general stock market, but in gold and the precious metals for quite awhile. And that, if once again we can speak honestly, has been the exact opposite of where we should have been, at least based on the action of markets themselves.
Although looking at the markets for 2014 alone doesn’t tell the whole story, it nevertheless gives us an idea of what I mean. Compared to the beginning of this year, the Dow Jones Industrial Average is up about 8% (with the broader S&P 500 up about 10%), while gold is down 6% and the mining shares ... Log in or subscribe to continue reading.