James Turk BlogJames Turk BlogJames Turk BlogJames Turk Blog
  • Blog
  • About
    • About FGMR
    • James Turk
    • GoldMoney
  • Books
    • The Collapse of the Dollar
    • The Money Bubble
  • Contact
Next Previous

Stock Market

James Turk 29 June, 2009

June 29, 2009 – The Dow Jones Industrials Average is at a very interesting juncture. Please take a close look at the following chart.

Dow Jones Industrial Average (29 June 2009)

As the dollar moves toward hyperinflation, I expect stocks to rise. I explained this point in recent letters. The general averages will not do as well as gold, and certain sectors with the stock market will do better than most, for example, mining and natural resource stocks will outperform. But the accompanying chart shows the DJIA slipping back below its resistance point, i.e., the red horizontal line. An objective reading of this chart places a high probability on the DJIA falling back toward 8,000, and prices even lower cannot be ruled out.

Interestingly, the chart does appear to be forming a ‘head & shoulders’ bottom, with a neckline around 8700. The right shoulder is now being formed, but it is too early to conclude that this pattern is in the making.

So for now, I continue to recommend that investors stay out of the stock market (except for my recommended stocks). Continue to hold ‘gold-cash’, not ‘dollar-cash’, thereby keeping your money safe and sound in bullion until stock prices fall to more reasonable levels when measured in terms of gold. I do not have any trading recommendations at the moment.

Leave a Comment

Cancel reply

Your email address will not be published. Required fields are marked *

ABOUT

FGMR My objective is to share with you my views on gold, which in recent decades has become one of the world’s most misunderstood asset classes. This low level of knowledge about gold creates a wonderful opportunity and competitive edge to everyone who truly understands gold and money.

RECENT POSTS

  • Heading Toward the “Tipping Point”

    In an article last year entitled “Bankruptcy 1995 Revisited”, I presented a

    17 April, 2019
  • "bankruptcy 1995" revisited

    “Bankruptcy 1995” Revisited

    In 1992 a book entitled “Bankruptcy 1995: The Coming Collapse of America

    15 March, 2018

RECENT TWEETS

  • Still waiting for this cup-&-handle pattern in weekly #silver to complete. Need an upside breakout over $50. Each w… https://t.co/yUJIaNGUSu

    4 days ago
  • A good article worth reading. A #Tether collapse of course doesn't impact the foundational structure of BTC but it… https://t.co/Efa8TzTEyE

    2 weeks ago

TAGS

bitcoin bonds central banks currencies debt dollar doug casey ecb economy euro fed gold greece hyperinflation inflation markets mining stocks MMGA oil Politics QE recommended silver stock market trading Trump usd us dollar Washington
Copyright © 2001-2016 Free Gold Money Report | All Rights Reserved
  • Briefcase
  • Contact
  • FGMR
  • GoldMoney
  • James Turk
  • The Collapse of the Dollar
James Turk Blog