Jim welcomes back Tom McClellan, Editor of McClellan Financial Publications. Tom sees the current pullback in the S&P 500 as healthy, and after the consolidation is over, he believes we will have more market upside lasting into July. Tom notes that historically the “Sell in May and Go Away” cycle doesn’t work during presidential election years, particularly with no incumbent candidate in the race. He also comments on interest rates and inflation, both of which he expects to stay low for a number of years. As to gold, Tom believes the gold cycle is topping now, noting the commercial traders are short gold in a big way. He believes that November will be the time to get back into gold. Also in this segment, Ryan Puplava has this week’s Market Wrap-up, Rob Bernard speaks about the bond default situation in Puerto Rico, and Robert Rapier covers the energy markets with Jim.
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