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This link takes you to a chart showing the Dow-Gold ratio back to 1885.

http://www.thelongwaveanalyst.ca/downloads/Dow_Gold.doc

Ian Gordon, who I just interviewed for Real Money (see column, above), thinks Dow-Gold will trough at 0.25. Today, Dow-Gold closed at 10x. So, he forecasts a further declines in stocks coupled with much higher gold prices.

Even if we "just" bottom out at previous troughs (1x-3x), this ratio implies a hard time in the years ahead for stockholders.



Hewitt
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