Richard Russell – Gold to Take Out $1,800 as Tangibles Soar

With many high net worth individuals continuing to exit paper money, today the Godfather of newsletter writers, Richard Russell, had this to say about gold, fine jewelry, fine art, the economy and more: “What we’re seeing now is flagrant divergence in the D-J Averages with volume sinking precipitously. This is a dangerous situation — acute divergence in the Averages on sinking volume — not good, not good at all. I feel that low volume in this case is highly significant. It’s as though the very heart of the market is whispering ‘caution,’ as the smart money pulls back on its buying. It’s notable that volume picks up on days when the market is down (a sign of institutional selling).”

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February 28, 2012

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