I started writing Dow Theory Letters in July of 1958. In all those years since, I’ve never taken a vacation, but as the year 2015 begins, I have decided to take a one week vacation. Just for continuity, I will throw in a few remarks about the market.
As I write the Dow is down less than .5%. But it feels a bit like a 1929 type crash, as bad news lines the front page of every newspaper. However I watch the markets, not the news. Actually the market has not done badly so far, and it would not surprise me to see stocks slither and slide for a few months before we get them to the very edge of the third phase of the bull market.
As I write, gold is trading at 1254.0. I have elected to go the "peace of mind route." That is why I maintain a large position ... Log in or subscribe to continue reading.