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 ...
Isn’t that the truth? We can go into our pantry or fridge and make a meal out of NOTHING. We did it growing up seeing our mothers make it happen and we did it ourselves when we first started out. There are so many ways to save:
Have your shoes resoled and heeled instead of buying new ones.
Mend holes in socks
Save clothing for hand me downs
Learn to fix things yourself
Make your own food with your own ingredients
Buy potatoes or grow your own. Make mashed, fried, boiled, baked, whatever.
Use bacon and save the grease for cooking
Wash foil and reuse it
Wash and reuse those plastic food storage bags instead of running out and buying new ones
Go back to cloth diapers and hang them on the line to save electricity
I’m sure people can add to these things. How do they think our parents made it through the Great Depression? They also BARTERED. I’ll give you this cause I don’t need it. What can you give ME that you don’t need?
Stop paying outrageous amounts of money for shoes and for clothing which gives free advertising to people who are laughing all the way to the bank at your expense.
Go now. Support charity run organizations and buy clothing to keep for when you need it. That way they make money and you have a stash to fall back on. Can help others too if needed.
Go back to depending on yourselves and calling on that good ole American ingenuity that got so many people through.
Yes - that’s right to the extent that buying Gold is never an investment, it is simply almost-perfect protection of savings.
So when other investments become safe and lucrative, sell the gold and put your money to work.
Your MrB are correct!!! Why wait?
So can city people if they’ll stop and take the time to think about what could happen and if it did...would they be prepared????
maybe luckily for most TSP holders, civil servants of certain pay grades are unionized and many high rankers are politically apointed or connected- so seizing TSP accounts to pay benefits to other unions seems antithetical
But this talk about how only “rich” people have 401’s and IRA’s andf stocks and savings, based on exploiting poor people who have no advantages
is getting louder and more persistent. What will be big labor do when the market crashes and they have to find money to pay off their members?
I am just holding my breath the citizens of this country can pull it out of this marxist nosedive starting by November
:) :) :)...now THAT was funny. Very, very funny!!!
A gun is a great way of saying “Here I am!” just as the missiles are headed your way.
And what happens when FDR2 decides it is in the best interests of the country to confiscate it all at $35 an ounce?
Depends on where you buy your gold. People in my city have recommended coin shops where they trust the owners and everything is handled in cash.
Hey- I was happy to get a dollar out for a dollar in!
Now I am in a military credit union piddling savings account but I hope it is honorable and honestly managed
Too bad, I had Fidelity account for 3 decades, now I don’t
But I saw they gave a fundraiser for Barney Frank, that was the end for sure
Our strategy to maximize income from now on - reduce obligations (debt). If worse comes to absolute worse I am considering which debts will have to be “postponed” or abandoned
Gun stores!
It doesn't add up. If there is a mortgage, the bank will pay the taxes to protect their position. If there is no mortgage the owner would have to be brain dead to not take out a small loan, pay the taxes and sell the property at a loss. In this case they would walk away with something.
As I recall during the LA riots, the Asians defending their property successfully against the gangs. I would expect more of the same in a collaspe.
Trying to imagine what a collapse would look like? Paper money implodes, massive unemployment, wide spread hunger, etc. Well that's not that bad. We could get thru that. But if the power goes off or trucks stop delivering food to stores well now it going to get nasty. Hoping none of this happens, but preparing just in case.
Because the DJIA never moves in a straight line even in the best of bullish markets. There always has and will always be ups and downs and sideways movements, with spikes and pullbacks, backing and filling, and market corrections. The recent decline from the April high is not even a 6% correction. Idiot.
Thanks for your comments. bttt
A gun is a great way of saying this is my house my food and you are not going to harm my family while I stand idly by and do nothing.
The prudent see danger and take refuge,
but the simple keep going and suffer for it.
Proverbs 27:12
If anyone does not provide for his relatives, and
especially for his immediate family, he has
denied the faith and is worse than an unbeliever.
1 Timothy 5:8
“Then whosoever heareth the sound of the trumpet, and taketh not warning; if the sword come,
and take him away, his blood shall be upon his own head. He heard the sound of the trumpet, and
took not warning; his blood shall be upon him. But he that taketh warning shall deliver his soul.
But if the watchman see the sword come, and blow not the trumpet, and the people be not
warned; if the sword come, and take [any] person from among them, he is taken away in his
iniquity; but his blood will I require at the watchman’s hand.” Ezekiel 33:
He's Richard Russell, and he is said to be famous.
I think it's an alarmist's way of sounding all technical and savvy while shrilly shouting, "sell anything that can be sold!!!" I think it's also an opportunist's way of saying, I'll buy it at 50% of your asking price.
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