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
Joe Weisenthal
May. 18, 2010, 8:57 AM
Image: US Army
WHOA!
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
[snip]
The DJIA is up 62 as I post. See here.
(Excerpt) Read more at businessinsider.com ...
http://www.bullionbypost.co.uk/ will buy at 98% of spot price.
There’s got to be a better deal than 90% in the US.
I can never remember where that thread is. Every once in a while, someone posts the link, and it has thousands of posts, which makes it strange that it’s so hard to find!
Thanks for the very kind recommendation!
I have an old (bakelite) radio with tubes that still works. I'm saving it to use after the EMP attack.
You are welcome.
Things are stabilizing for better or for worse.
Ultimately the time to worry about a Crash was in 08 or 09.People raving about the impending meltdown or this country changing overnight must have skipped out on last year.
Because normally this place isn’t usually like that.
And one more:
Equities are overpriced; here’s how the crash will unfold
History and the numbers say we’re due for a giant correction; here’s how it’s going to unfold.
http://finance.yahoo.com/news/Equities-are-overpriced-heres-hftn-1401995113.html?x=0
In two tumultuous weeks in October 1987, the stock market shed nearly one-third of its value in perhaps the second most notorious crash in U.S. history. It could happen again. Don’t be deceived by the rebounding economy, any more than the bulls should have been misled by the balmy climate during the late Reagan years. Right now, stocks are extremely vulnerable to the same scenario. The reason: The market is even more overpriced than when thunder struck on that distant Black Monday.
That doesn’t mean that a giant correction is inevitable; far from it. But the quasi-bubble that followed the big selloff in late 2008 and early 2009 makes the probability of sudden downward swing far more likely. And today’s high prices make it practically certain that investors can, at best, expect extremely low returns in the years ahead.
“Tell them to get out of debt..”
Why would you do that if you expect the end of the world as we know it?
Same thing with converting physical stuff to paper money.
You’re site is awesome!
I hope everyone bookmarks it!
:)
Yeah, kinda pisses me off, I’m telling everyone to stock up on can goods. Do they? No, but if the stuff hits the fan they will all come over to my house. I’m having to buy way more then I should for the grass hoppers. Well they are going to pull garden gaurd duty if they want to eat. lol.
No, he’s telling me that it’s the counties and it’s for taxes ... he says that he gets them at the counties when they do their tax sales... if no one buys, then the country owns the property, themselves. If someone buys, then that person is the new owner.
But, I do remember the recent story about the returning vet who had his house sold out from under him for back dues on the HOA ... and that was a shame...
Actually, it’s a shame for all these people... as they’re sitting in about $100,000 house that someone else just walks in there and picks up for a few thousand.
The guy was telling me that he just goes up to the people and tells them, “If you want to stay, this is how much rent you’ll be paying now. Otherwise, get out in three days!” ... hoo-boy! ...
why not just keep some radios in a small room with Farraday protection?
Buy a metal dog kennel and run a ground wire to a cold water pipe.
usgoldbuyers prices depends on the amount of gold. Example if under 5 toz they give 90 percent, 5 to 50 toz they give 95 percent, greater then 50 toz they give 98 percent. If bullionbypost gives 98 percent, I will check that out. Thanks for the info. Bottom line is do not go to jewelry stores, pawnshops and most TV advertised gold buyers.
I don’t believe money market aaccounts are FDIC insured or guaranteed (for what that’s worth from the obama govt)
check with the holder
I took all mine out of Fidelity money market after the 2008 crash when MM shares were trading below net
thanks I understand options, back in the 70’s I begged my boss to loan me 5k so I could buy silver options. He wouldn’t, silver was at 5.75 and went to 60. Man I was pissed.
“buy property”
The problem with that is that all you really get is a piece of paper. If the sh!t hits the fan, it’s still going to be up to you to try to hold it.
Face it. At some level there is no “safety”.
Hope it works out for you Fee.
bullionbypost are based in the ‘Jewellry quarter’ of Birmingham UK, and while they have a size taper on selling gold, they seem willing to buy at melting-pot price.
I keep those sorts of things in 55 gallon drums with grounds.
Its really messed up
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