By Richard Russell
I’ve been hoping for good news, but it’s hard to find. The Fed continues to talk about raising short rates but they keep putting off the first rate increase. This was enough to make market observers skeptical, but their skepticism is backed up by the market action. As I write, an hour before the close, we have triple digit declines in all the major indices. The Dow is trading below the big number of 17,000, the Transports are closing below the big number of 8,000, and the Nasdaq is trading below its big number of 5,000.
Subscribers who are holding physical silver and gold are out of the market and watching their investments rise. It seems to me that the precious metals have bottomed, and that the bull market in precious metals is being reconfirmed. As I write, gold is trading up 6.1 to 1159.2, as opposed to the way ... Log in or subscribe to continue reading.