Gold Soaring – The Wisdom Of Jim Rogers And Benjamin Graham
KingWorldNews.com
January 15, 2015
With the gold market soaring and major turmoil in currency markets on the heels of the stunning news out of Switzerland, today one of the great minds in the business sent King World News a timely piece that contains the wisdom of Jim Rogers and Benjamin Graham.
By Jeffrey Saut, Chief Investment Strategist at Raymond James
January 15 (King World News) – When asked how he made all his money, Jim Rogers answered, “I sell euphoria and buy panic.” The way he determines that is to wait until prices are “gapping” in the charts. Gapping on the upside is considered “euphoria,” while gapping on the downside is representative of “panic.” Currently, crude oil is “gapping” on the downside and Treasuries are gapping on the upside. The result has left stocks gapping on the downside as well. The implication, even though I continue to believe stocks are in a secular bull market, is that corrections in bull markets can be painful. Recall, since the March 2009 low, we have experienced a number of 10%+ corrections in the S&P 500 (SPX/2011.27) with the worst being a near 20% affair.
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