Richard Russell Declares “The Bear Market In Gold Is Over”
KingWorldNews.com
June 20, 2014
After making One Of The Greatest Market Calls In History last year, today legendary Richard Russell declared that “The bear market in gold is over.” At nearly 90 years old, the Godfather of newsletter writers, Richard Russell, stated that “gold is again in a bull market,” and included six charts to go along with his historic announcement.
Russell: “Everything is coming up roses with the stock and bond markets and also with the precious metals. Now that GDXJ is acting so well, I’m wondering how many of my beloved subscribers have taken a position in GDXJ? Like most advisories, I tout or boast about the positions where I’m right and forget to comment on situations where I have been wrong.
I haven’t been listening, but Janet Yellen is being grilled again by Congress. And here is her chance to suggest a continuation of QE. Actually, she intimates that nothing will change. I still can’t believe that the Fed will shut down QE in a few months. The stock market is obviously aware of this, but has chosen, so far, to ignore it. The choices ahead are — the Fed will continue QE, or at some juncture ahead, all the smart boys will all rush for the exits at the same time. How this will all work out is a mystery to me. I’m just as happy to be out of common stocks and in the precious metals.
Another question — what’s holding the dollar up? This is a market full of mysteries and at the same time, exhibiting extremely low volatility. As I’ve said so many times before, after the calm comes the storm. Gad, I think I’m ready for another glass of buttermilk.
The Rest…HERE
