Friday, July 4, 2014

The Approaching Market Reversal

This from Charles Hugh Smith at PeakProsperity.com

"Though we’re constantly reassured by financial pundits and the Federal Reserve that the stock market is not a bubble and that valuations are fair, there is substantial evidence that suggests the contrary.

The market is dangerously stretched in terms of valuation and sentiment, and it does not accurately reflect fundamentals such as earnings and sales growth.

Why do we care? If we own no stocks in a retirement or other account, we don’t care; it’s mere background noise.  But if we’re exposed to the gyrations of the stock market in any way, we should care, because those who sell near the top before the market drops preserve not just their initial capital, but their winnings from the 5+-year bull market. Those who fail to sell risk losing not just their gains, but quite possibly a material chunk of their initial capital"....more

Gold in New Zealand dollars: $1507.71 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)
Low since previous high: $1477.01 (9 January, 2014)

Silver in New Zealand dollars: $24.15 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
Low since previous high: $22.26 (1 May, 2014)
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