The market is now significantly overbought. The PE ratio of the S&P 500
index is up to 84 times earnings as a result of Fed programs. This is
where inflation lies. If the ratio was at normal levels, then the S&P
500 index would be more in the 400 to 600 range. This balloon is
unsustainable. A monthly close on the S&P 500 above 1080/1100
would signal a buy in stocks which can only occur if inflation has begun in
which case I would prefer Gold & Silver to anything else.
Remember Stocks, Bonds and paper currencies are all debt instruments
they are loaded with debt and liability conversely tangible gold has no
debts or liabilities.
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