Richard Russell – The Brutal Bear Phase In Gold And Silver Is Now Coming To An End

Tuesday, August 11, 2015
By Paul Martin
August 10, 2015

On the heels of the gold and silver surging along with the Dow, the Godfather of newsletter writers, 90-year-old Richard Russell, said the brutal bear phase in gold and silver is now coming to an end. The legend also discussed other key markets.

Richard Russell: “Everything that I read regarding the US economy is bullish. The only newspaper that dares to publish bearish comments on the US economy is Investor’s Business Daily. The mass of comments about the US economy is so lopsided, it makes one wonder if supply and demand has given way to Fed manipulation. I find myself wondering whether the stock market still retains any forecasting ability.

But let’s face it: the stock market is all that we have to go on. As I write, one hour before the close, both Industrials and Transports are higher by triple digits. At the same time, the four averages that I follow closely remain above their even thousand numbers. Industrials are above 17,000, Transports are above 8,000, the Nasdaq is above 5,000 and the NYSE is above 10,000. These are intraday figures, but if they close this way, I will regard it as bullish.

I consider the Nasdaq to be the market leader. The Nasdaq includes Apple, Google, Microsoft and Facebook. Apple alone comprises 7.4% of the Nasdaq, and Google comprises 4.8%.

Short rates have been held at zero by the Fed for six years, and the Fed is anxious to bring rates back to normal. The Fed’s target for the first rate raise is September. But because inflation is still below 2%, I doubt that the Fed will have the courage to raise rates this year.

The Rest…HERE

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