On the heels of the tragedy in Paris, today two legends in the business sent King World News powerful pieces urging caution after the Paris attack.
Today’s note from Jeffrey Saut (Chief Investment Strategist at Raymond James): “The call for this week: Our models called the downturn beginning in July, as well as calling the bottom on August 24th. We subsequently said that a bottom is typically a process and not an event. What you tend to see is a capitulation low (August 24th) followed by failed rally attempts. Then, the market comes back down and tests the capitulation low.
That is what happened in late September and we recommended mutual funds and stocks at the August and September lows. What followed was a double-bottom (W-shaped) in the charts. However, more recently our models have been calling for a more cautionary stance and we have complied. Hopefully, this recent weakness will have a positive resolution this week. Until then, we are operating under the prime directive of investing …”Do no harm.”
Also, this is a portion from Art Cashin’s note today: “Overnight And Overseas – The tragedy in Paris on Friday night has tended to confuse markets as they try to sort through the possible implications. Asian markets were mixed with Shanghai and India a bit higher. Hong Kong and Australia were lower while Japan got smacked as it slips back into recession.
Emerging markets got hit. European markets originally sold off but have generally crawled back into plus territory on weak volume (down circa 30%). U.S. futures followed Europe back to the plus side. Gold is up as is crude but copper and base metals move lower.
Consensus – Instability may persist. Paris attacks may weaken Merkel politically. Many in the FoF think ISIS may attack U.S. next as they seem to be working through those mounting flights in Syria (Russian plane, Paris strike). Oil firms as Mideast further destabilized, but watch crude as it defends $40. Stay wary, alert and very, very nimble.”
***KWN has now released the powerful audio interview with Nomi Prins, the keynote speaker who recently addressed the Fed, IMF and World Bank, where she discusses the coming financial destruction that is in front of us, what is going to put an end to the manipulation of the gold and silver markets, what investors can do to protect themselves and much more, and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
***ALSO JUST RELEASED: Stunning Global Demand Has Now Created Major Gold Shortages In The Financial System CLICK HERE.
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