Each week, we prepare a selection of newsworthy events to which the current market can
explained, somewhat.  This week is no exception, save one difference, that being so many
want to see/hear some kind of look into the prospects for the year ahead.  Our look ahead
starts with a rear view mirror look back at 2014.  In hindsight, we began 2014 with a
positive outlook, but that quickly changed into the view that 2014 could turn out to be just
like 2013…no big rally.  On that score, we were on point.

Before engaging in a review, we have abandoned providing any background news, this
week, because for us, the most important news moving forward is found in the six charts
that follow.  If you are willing to accept the message the market is giving to everyone, you
will understand the folly of those who opt to make price “predictions.”  Keep in mind, a
good many of the experts with the largest followings were touting a price breakout by the
end of 2014.  None called for new recent lows, and if someone did, our apologies for not
knowing who you are.  Bottom line:  predictions are a waste of time.

To the degree that new recent lows developed in 2014, we did not expect that event.  This
is a more forgiving “miss” because we were not advocating trading the market from the
long side, on paper throughout 2014.   Strong recommendations to buy physical gold and
silver were a constant, on our part.  While all purchases for the physical made during the
year are higher than current prices, the buy recommendations were always qualified for
reasons unrelated to the market trend being down. Continue reading →