This Is How Gold & Silver Will Fare If Stocks Are Crushed
November 8, 2012
Today Tom Fitzpatrick spoke with King World News about what to expect going forward from gold, silver, the US dollar, the euro, bonds and stocks. Fitzpatrick has been astonishingly accurate in forecasting the movements of both gold and silver. Now Fitzpzatrick lets KWN readers know what to expect from stocks, bonds and the currencies, as well as the metals.
Here is what top Citi analyst Fitzpatrick had to say, along with some powerful charts: “We still have the overall view that this up-move we saw on the Dow, which was just short of 13,700, is very similar to the up-move we saw after the fall in 1973/74.
Also, we have two very important support levels on the VIX, which when we’ve looked back over the past five years, has been a good indication that we will see a strong up-move in the VIX, and by definition a strong down-move in the equity markets. We may have seen the start of that today (see chart below).