Posted on 05/24/2012 6:20:58 AM PDT by blam
Richard Russell: Stay In Cash, Something, Something 'BIG' Is Heading Our Way
Joe Weisenthal
May 24, 2012, 6:34 AM
Bearish newsletter guy Richard Russell finds the market action to be very strange and ominous.
As of today's closing, Dow down 14 out of 16 sessions! This is one you can tell your kids about. And still no collapse in breadth, and still no crash. The only thing I can make out of it is that a lot of people are "standing their ground".
Maybe it's just the Dow that is dying, and the rest of the market is OK. But don't you believe it. The Dow represents the manufacturing capabilities of the United States, and when you see the Dow doing what it's doing, you can be sure that somewhere ahead business is going to take it on the chin.
By the way, on May 1st, the Dow recorded a high, but that high was not confirmed by the Transports. The two Averages then plunged below their April lows, delivering a bona fide Dow Theory bear signal. So yes, this is a continuation of the bear market. But it's starting out in a stranger way than any bear market I've ever seen. Maybe the experts are so fascinated with the Dow and Facebook that they're not taking in what's happening.
Stay in cash, because I intuit that something BIG is heading our way. After all these years following markets, sometimes I have the feeling that I've seen everything. But not this time. Hey, would you believe the Dow could go down 14 out of 16 sessions, and people would still be complacent? There are so many potentially bearish scenarios in the wind that my head is spinning.
(snip)
(Excerpt) Read more at businessinsider.com ...
Plunge Protection Team?
Or, until the perfect moment before election day. Sometime in October, say.
Government money printing
Yes, I find this section and the following chapter to be helpful for me. But if I have to narrow it down to a single verse, that fits best for me now.
I thought Wererhaeuser had a big push a few years ago to get out of the land owning and focus on timber operations on leased acreage.
A friend of mine bought hundreds of acres from them as they sold property that had been planted with seedlings just a few years before.
>> “Nobody really knows.” <<
.
Bernanke’s Bull($h!t) traders strike again.
.
He paid a little under cash value for the farm land and the rest was just bonus.
He sold the hardwood timber for just over the total purchase price for the whole farm.
He now farms the acreage and can sell the whole thing at any time for more than what he paid, and can lease the hunting rights for more than the taxes!
If the house isn't in too bad of shape you can also rent that.
It happens every day for those that study up just a little bit on the value of hardwood timber.
I did something similar with land my Mother-in-Law had.
She was considering an offer to sell it. Asked me about it then turned it over to me to manage.
I sold some of the timber off it for nearly the selling price she was considering.
We actually got more for tall straight pines than the hardwoods when compared by the ton. Trees suitable for power line poles are quite valuable.
You're welcome.
Your satisfaction/appreciation is my reward.
You’re very conflicted, aren’t you!
You call it BS, but then take the maximum action.
there is an expert on every corner in Freeper world. I knew somebody would arrive with some info.
I’m not an expert on this topic by any means.
I just had involvement on some Weyerhaeuser property in Western Louisiana. I heard the reduction of their property ownership through purchasers of some of their property, and from a small timber company who I did business with.
Consider it third-hand info from a limited regional source. I’ve never tried to follow the Weyerhaeuser company.
I posted that above to see if anyone would confirm or deny those claims.
i think i prefer oil reserves as a “hard asset” rather than timberland or gold coins. However, Exxon (for example) is a net buyer of oil as they do more production of end products than their drilling allows. Not sure which major is focused more on explor. and development.
Because their refinery operations are more than twice their oil production rates, ExxonMobil actually buys more oil than they produce.
Not sure which major is focused more on explor. and development.
Most define a major oil company as one significantly in all phases of the operation, production and refinery.
A company that focuses only on production is called an independent, regardless of size. The general public may not always use the terms that way, but it is common in the industry.
For example, ConocoPhillips recently spun off their refinery operation into a separate company, called Phillips 66. ConocoPhillips, being only an oil and gas production company, is now considered an "independent".
ConocoPhillips Becomes One of the World's Largest Independent E&P Companies
http://www.marketwatch.com/story/conocophillips-becomes-one-of-the-worlds-largest-independent-ep-companies-2012-05-01
May 01, 2012
ConocoPhillips today announced that it has completed the spinoff of its downstream businesses to its stockholders. With the completion of this transaction, ConocoPhillips is the world's largest independent exploration and production (E&P) company, based on proved reserves and production of liquids and natural gas.
"ConocoPhillips will truly be unique as an independent E&P company. Our unmatched size, scope and capability position us to compete successfully in this business," said Ryan Lance, chairman and chief executive officer. "With an exclusive focus on exploration and production, we will pursue opportunities and take actions to create value for all our stakeholders. We will emphasize execution and operations excellence, the principles that made us what we are today and that will shape the ConocoPhillips of tomorrow."
- - - - -
Marathon did the same last year, but both new companies use Marathon in their name. However, they are completely separate.
http://www.forbes.com/2011/01/13/marathon-oil-split-markets-equities-sands.html
Prior to ConocoPhillips split, I believe Anadarko was considered the largest independent oil producer.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.