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Saut:  “We are currently involved in the longest buying stampede chronicled in my notes, and my notes run a little over 50 years.  I first discovered ‘buying stampedes’ and coined that phrase back in the 1970s.  They typically run 17 to 25 sessions, with only 1 to 3 session pauses or pullbacks before they keep going.


This one has lasted 102 sessions as of today....


Continue reading the Jeffrey Saut interview below...




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“There have been some that have lasted 25 to 30 sessions, but it is rare, I repeat rare, to have one go for more than 30 sessions.


There was a 38 session buying stampede into the 1987 peak in August, which proceeded the Dow Theory sell signal of October 15th of 1987.  We all know what happened on October 19th, we got the stock market crash.  Then, in 2010 you had a 53 session buying stampede. 


But the one we are in right now is the longest one I’ve ever seen in my career.  As I said, today marks the 102nd trading session of this buying stampede.  That’s 102 sessions of a buying stampede, and remarkably we still haven’t had 3 consecutive days down in the Dow since this buying stampede started.


I think this rally is going to continue into the end of the quarter because portfolio managers are still underinvested and underperforming.  They not only have performance risk, but they also now have bonus risk, and ultimately job risk.  So I think we are to remain strong into the end of the quarter and then my timing work shows that sometime in July or August we are vulnerable to the first potential for a serious (double-digit percentage) pullback.”   


Eric King:  “What other surprises do you see going forward?”


Saut:  “I think the move toward energy independence is going to be huge.  The latest figures show that we are producing 725,000 barrels a day out of the Bakken, but it’s going to be over 1,000,000 barrels a day by the end of the year.


Here’s the key, the resource we are currently drilling on in the Bakken is only 36 feet thick.  But there is another resource underneath that called the ‘Three Forks Resource’ that’s a staggering 4,000 feet thick.  They expect it to contain over a stunning 7 billion barrels of oil.


But it’s not just the Bakken, this is going on all over the country.  So the move to energy independence is very, very bullish for America over the long-run.”


© 2013 by King World News®. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.  However, linking directly to the blog page is permitted and encouraged.


The audio interviews with Rick Rule, Gerald Celente, Jim Grant, Michael Pento, Egon von Greyerz, Andrew Maguire, Art Cashin, William Kaye, Dr. Paul Craig Roberts, and Nigel Farage are available now.  Also, be sure to hear the other recent KWN interviews which include Eric Sprott, Marc Faber and Felix Zulauf by CLICKING HERE.


Eric King

KingWorldNews.com

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