Richard Russell senses something momentous building in the markets and he’s waiting for the right catalyst. He thinks that catalyst will be an eventual nuclear stand-off between Iran and Israel. In his Friday note he said:
“I’ve been sensing something BIG and ominous is in the offing. What could it be? Ah, a front page article in Sunday’s NY Times supplies the answer. Israel will attack Iran with nuclear bombs. Israel must attack this year for this is the year when Iran will have nuclear capabilities.
Actually, the stock market is acting as though something momentous and frightening is ‘out there.’ The roof of a monster top is building. Gold keeps creeping higher.
If Israel attacks the Mid-East will go up in flames.
Suggestion — dollars and gold. If the dollar collapses, gold will make up for the losses by sky-rocketing.
The next target for gold — to trade into the 1800s, and it’s getting close.
The Dow is fluctuating around the 12700 area, not surging above it or falling decisively below it. If you listen carefully, you can hear the heart-beat of the market. It’s a slow, heavy beat, as if the market is waiting for something. That something is going to be BIG. Bigger than what anyone is expecting.
Read more: http://www.businessinsider.com/richard-russell-2012s-market-moving-event-will-be-an-iranisrael-war-2012-2#ixzz1ldPWqrF8
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