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THE DOW/GOLD RATIO SAYS STAY LONG GOLD, SHORT EQUITIES

Interesting data here this morning from David Rosenberg at Gluskin Sheff.  If history is any guide the equity markets won’t make a secular low until the Dow/gold ratio closes further. Mr. Rosenberg notes:

“That is what the chart below displays … and: (i) if this ratio ends up retesting the two fundamental lows that it has achieved in the past; and, (ii) if we are correct in our assertion that gold goes to $3,000/oz, then what we would be talking about here is a Dow 5,000 trough at some point down the road.”

Source: Gluskin Sheff

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