Skip to comments.Dow Theorist: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
Posted on 05/18/2010 7:05:51 AM PDT by blam
Dow Theorist: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
May. 18, 2010, 8:57 AM
Image: US Army
Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today's note:
Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country. They'll retort, "How the dickens does Russell know -- who told him?" Tell them the stock market told him.
That's pretty intense!
Update: By popular demand, here's more on what he sees in the market:
And I ask myself, "Am I seeing things? The April 26 high for the Dow was 11205.03. The Dow is selling as write at 10557 down 648 points from its April high. If business is even better than expected, then why is the Dow down over 600 points? And why, if there were 674 new highs on the NYSE on April 26, were there only 20 new highs on Friday, May 14? And if my PTI was 6133 on April 26, why is it down 17 points since its April high?
The fact is that I've been seeing deterioration in the stock market ever since early-April, and this in the face of improving business news. The D-J Industrial Average is composed of 30 internationally known top-quality blue-chip stocks. These are 30 of "America's biggest companies." If Barron's is so bullish on the future of America's
The DJIA is up 62 as I post. See here.
(Excerpt) Read more at businessinsider.com ...
Money is a liquid asset. Where do you sell your money?
Note: I don’t recognize the country NOW!
You sell it for food, water storage, fuel, supplies and ammunition. You can't eat the money.
Well... back in 1998, I was saying... this is the coming Great Depression... I guess someone else is catching on to it now ... (but he’s certainly not the first, by any means) ... :-)
In fact, I’ve said it’s the “Great Depression” even while other FReepers have been telling me that I’m crazy ... hoo-boy!
I guess we’ll see...
I have been out of the market for a long time. I only look for stocks to short.
To me..... I'll give you a nickel on the dollar. But don't worry, they'll be wet nickels.
Those of us who grew up poor and frugal are at a great advantage in a lot of ways.
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I will stay as I am. Just another wacko with stock motives.
Too many experts and their crystal ball is cracked.
Hell. I don’t recognize it now.
If the GOP manages to screw up the November elections, the bottom will fall out of the stock market. Traders are banking on a Republican win to halt BO’s Marxist agenda.
I’ve subscribed to Russell for years. He called the big move down.
Take a hard look at the CDOs - especially the ones the FDIC now owns. Look at the projections of federal debt, as provided by the Congressional Budget Office.
His suggestion: cash and gold. I think he’s right.
Stupid. You will die surrounded by boxes of ammo.
The food riots will be ugly. The communists need a catastrophic collapse and are in position to cause it.
So after a 5,500 pt rally, the market loses 700 points (and quickly recoups half of that), and this pricknose wants me to hit the panic button. Curious: Was he issuing strong BUY recommendations in March 2009 when the market was cheaper than it had been in 20 years? No? He was saying SELL then too? Well, then how can anyone who followed his advice then, follow his advice now? They don’t own anything TO sell.
You lost me there. What are you talking about?
And what did I ever do to you to deserve being called "stupid"?
I wish these experts would graph their predictions so we could tell if they are worth listening to.
Same with the religious leaders who predict the end of the world every time there is an outbreak of violence in the Middle East.
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