“In July of 1932, during the depths of the depression, with the Dow at 41, a few brave souls realized that no market goes to zero and they invested. Just short of a year later, the Dow was 108, a climb of 150% during the worst part of the depression.

It’s been my observation in my 40 some years of investing that markets that decline between 87 and 91% will tend to have a countertrend rally of 150%.

Rhodium is quoted at $1170 an ounce today. It is used in catalytic converters primarily but also to plate white gold and sterling silver jewelry. It is one of the platinum group metals. (PGM) It hit a high of just over $10,000 an ounce in mid-2008. It hit a low for this year of $1150 a week ago”.

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