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 ...
You paint an scary and accurate picture - thanks for the warning. That said, what’s a PM?
>>Well... back in 1998, I was saying... this is the coming Great Depression...<<
You were ahead of me. I didn’t start until 2006. ;)
It’s always a good idea to own an ax - split wood drys faster...
>>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. <<
What he said was that as news got better and better,the market lost 700 points. He’s saying that the news and the market are not in synch. Someone is lying.
It is like when you hear consumer confidence is way up, but two weeks later the consumer SPENDING figures are down. It is best to trust what people and the market are actually doing rather than the news. And when the action and news are out of whack, you should be concerned there is some attempted manipulation of attitudes.
Forewarned is forearmed.
That’s why I feel quite secure in a little town like mine. We have multiple skills, trust, and sense of community.
We’re off the beaten path so I’m not too worried about rabid starving city dwellers wading through the swamps and rivers to overwhelm us.
Although in my experience a sledgehammer and wedges work better for splitting.
A .22 mag hand gun would be a nice thing to have. I prefer revovlers but I might bite for a semi auto .22 mag. Ammo much cheaper then a 357 or 45. Not much stopping power but still a nice weapon.
Maybe they weren't referring to this, just all of the other stuff?
Around here... I'll guarantee you... one is crazy to at least some other FReepers, on some subject ... :-)
Some folks just aren't gonna be happy if they're not livin' high on the 'possum. A neighbor of mine just about puked when he saw me clean a clam. If it's not delivered to the door in a cardboard box, it ain't food.
He really needs to insure those homes as soon as he buys them.
To me, the real fight is an inside fight. That's how the Marxists took us over, that's how we'll have to get it back. And we are doing fairly well in our efforts to get America back.
RESOLVE and DETERMINATION -- Moral Character not stocks of ammo -- will win, and are the ONLY way to win.
If things get bad you are not going to make it on your own unless you live on a mountain top and even then it’s iffy. Since I am surrounded by carreer grass hoppers I am having to prepare for EVERYONE, pisses me off but the grass hoppers are my friends too. But I am going to make them pay, big time.
Could we use one of Obama's?
He might not be telling you the whole story. I don't know of any jurisdiction that doesn't have a redemption period usually 12-18 months. During that time the prior owner can pay back the amount paid plus the bid interest and gets the property back.
He might not be telling all, and it may be some kind of special sale from the tax authorities (i.e., the county) that allows him to get the deed in 48 hours or less.
I always thought that was the case. But, here's the thing about that, though. He did mention to me that in the past that it was that way, with a time period of redemption involved -- and he said he's sitting on a few of those right now, waiting for the redemption period to run out. However, he said, that these present ones that he's getting -- that there is no waiting period and that the "law has changed on it".
I'll have to check into it and see what's going on there. I mean, he was talking about getting 500 acres of property out in the country for a few thousand dollars of taxes that he paid. That's quite a deal if he can do that.
I told him that he sounded like those TV Infomercials that I've seen late at night ... LOL ... He was asking me if I would be interested in doing something like that, but I didn't say I was interested. I will check it out and see if what he says is true.
If I can get some property that's worth about $100,000 for a mere $5,000 or less (for taxes at a tax sale), well, that's one way to get into something "low" and "sell high" ... or sit on it for a while and sell later... :-) You can't go wrong with a few thousand dollars like that.
don’t forget three steel wedges, an ax can only do so much.
Local idiots are spending silver at face value, now, from what I'm seeing.
When the Roman Empire collapsed, the dark ages, with its multitude of tiny authoritarian tribal states quickly followed. It took hundreds of years for societies to finally recover. And, the map of Europe was drastically changed. There is no reason to assume it would be any different today in this country.
I would agree. I think history is an excellent indicator and even without the example of history... just knowing how people are, this is exactly the way it would go.
I don't think this country would ever recover from that sort of thing and we would have several different countries, eventually -- in the place of the United States, each with its own laws (eventually) and it's own legislature and police and military... that's the way it would eventually go.
This -- if it happens -- will end the United States for good. It will never come back from that.
Because, as everyone knows, most radio stations have vaccuum tube transmitters. /s
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