Sage View

We
Are young but getting old before our time
We'll leave the TV and the radio behind
Don't you wonder what we'll find
Steppin' out tonight?
--Joe Jackson

Market sage Richard Russell once again offers rationale for gold in this environment. Russell is one sharp cookie--likely the reason why he maintains the longest running investment newsletter in existence--he's been at it since 1958.

While I no longer subscribe to Dick Russell's newsletter, I love catching snippets when they show up. Lately, it appears that he's turned quite bearish based on the technical action layered on top of the increasingly chaotic structural landscape. He's forecasting a retest of the March '09 lows in stocks (and then some).

His preferred asset allocation: cash and gold. Cash to weather a deflationary storm. Gold to hedge against a paper blizzard to stem the deflationary tide.

position in gold