Renowned geopolitical and financial cycle expert Charles Nenner called this
market just 2% from the top in January. What does he think now? He likes gold
and says he “made more money in gold than in stocks” in the past few months.
Nenner says, “We are playing the long term gold market. We went out at $2,100
(per ounce), and the price target was $1,850 (on the downside). We hit $1,850 a
couple of days ago, so we bought back in. We get in and out for a couple of
hundred points, and it’s worthwhile. So, the gold cycle is up for much longer.
$2,500 is the first target, and it could be we get higher targets. I do not believe in
the stock market, most of the markets we do nicely in are the gold market, silver
market, crude oil market, bond market and the dollar. It’s all very simple and
normal, and the stock market is not going to end very well.”
Nenner is long the stock market now until close to the end of November. Nenner
says the rising market may be signaling a coming Trump win in November.
Nenner is not sure, but what he is very sure about is the stock market is way
overvalued just like it was earlier this year. Nenner explains, “As you know, the
stock market is still very much overvalued. One of the reasons is the ‘Buffett
Indicator,’ and that is the value of the stock market compared to the value of the
entire GDP, and it’s extreme. I think it’s more extreme than the 2000 bubble. If
you want to buy low and sell high, you have to have indicators of what is low and
what is high, and, for me, this is high. This is based on the fundamentals, but on
the cycles, we can try to test the highs one more time. This is not going to end
well because everybody will try to get into the market, and then the whole thing is
Join Greg Hunter of USAWatchdog.com as he goes One-on-One with renowned
cycle analyst and financial expert Charles Nenner.