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Eric King:  “Jeffrey, so far your call for a peak in these markets in late July has turned out to be very accurate in terms of the general timing.  What are your thoughts at this point?”


Saut:  “I think we are still involved in a correction.  I don’t think it’s over with yet.  The internal market data continues to be positive, but I still think we have further to go on the downside....


Continue reading the Jeffrey Saut interview below...




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“The correction should be around 10%, but I think it will be followed by new highs for the equity markets.


Eric King:  “Oil has had a nice move here as it trades near the $110 level.  The chart was quite bullish at $106, and sure enough it moved higher.  What about oil?”


Saut:  “Oil did break out.  It broke out of what a technical analyst would call a ‘flag formation’ three days ago.  If it pulls back to the top of that flag, which now becomes support, somewhere between $107 and $108 a barrel, it should find support.


We are currently near $108 right now.  Obviously, if we don’t have an excursion into Syria, the price of crude oil is probably going to come down.  There is a premium built into crude oil at this point which would come out of it pretty quickly if there is not a Syrian attack.


But if this trend in crude oil continues, we should see a measured move up into the $120+ area.  I still think that to a large degree it depends on what happens in Syria over the next few days.”


Eric King:  “You had sent KWN a fascinating gold chart over a month ago. I know that chart had been in a ‘sell’ signal for some time.  We’ve now had this rally in gold.  Can you talk about that chart and what you expect from gold in the future?”


Saut:  “The chart is still showing ‘red,’ but the lines are getting closer, and it looks to me like it is getting ready to flip to a ‘buy.’  In fact, I just looked at the chart before we started this interview and it looks to me like it’s very close to moving to a ‘buy’ (or green) signal (see chart below).  I promised you that I would send KWN the chart as soon as it flashed a buy signal.  Well, as you can see we are getting very close now.”




Eric King:  “Assuming that chart flips to a ‘buy’ signal, it has been fantastic at keeping investors on the right side of the trends in gold -- from 2008 to 2011, and also very recently on the downside as well.  But if we do get this trend change in gold (the buy signal), I’m assuming this up-move could go on for quite some time.”


Saut:  “Yes.  It does look to me like it could run into some overhead supply at around the $1,600 level on gold.  But the buy signal should allow for gold to have the momentum to eventually take out the resistance at the $1,600 area and head higher.”


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The audio interviews with Dr. Paul Craig Roberts, Art Cashin, James Turk, Eric Sprott, Egon von Greyerz, Michael Pento, James Dines, William Kaye, Grant Williams, Hugo Salinas Price and Marc Faber are available now. Also, other outstanding recent KWN interviews include Jim Grant and Felix Zulauf to listen CLICKING HERE.


Eric King

KingWorldNews.com

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