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FSN: This Is Stunning, I Haven’t Seen Anything Like This In 43 Years

FSN: This Is Stunning, I Haven’t Seen Anything Like This In 43 YearsWednesday, May 08, 2013 10:17 PM

Be prepared for the next great transfer of wealth. Buy physical silver and storable food.

from King World News

On the heels of enormous purchases of physical gold from China and continued volatility in global markets, today King World News interviewed Jeffrey Saut told KWN he has never seen anything like what we are currently witnessing in his 43 years in the business.

Saut: “This buying stampede in stocks is now 89 days in length, which is historic.



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If he's been around 43 years...

Then he should realize that markets -- all markets -- typically breakout to the upside after they have hit a major resistance level 3 TIMES.

If you take a gander at this less than perfect 30 year chart you'll see that 1-2-3 breakout to the upside.
1 was 2000
2 was 2007
3 is now.
http://www.the-privateer.com/chart/dow-long.html
It is textbook technical trading 101.

I remember in the 80's when the Dow broke through 2000 for the first time. It was all over the news. People like me a teacher at the time who knew nothing about stocks were talking about it.

Cyril's picture

Here's the link to the original King World News Blog article btw

Thanks for posting.

Here's the link to the original King World News Blog article, btw:

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

egapele's picture

Is that not when Nixon took the dollar

off the gold standard?