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 ...
Do you remember Saddam’s massive underground complex. He had HUGE stores of ammo and guns.
It is absolutely stupid to ‘liquidate’ stocks and bonds, or businesses or real estate in order to buy ‘ammo’.
To hold off a few vandals you do not need a lot of ammo. But to hold off the Federal Military and local Police you will never have enough ammo.
I call ‘stupid’ when I see it. It’s the IDEA, not you, to which the label applies, btw. No Freeper is stupid, but some ideas that we tend to hold unexamined are.
Unless you have your own firing range, in deed or in effect (which some Freepers do) the huge stockpiles of ammo will end up being something those who bury you will have to dispose of.
Quite possibly the most brilliant response I've ever seen on Freerepublic ... especially the way you weave the word stupid into it.
[/sarc off
I'm out of stocks for now, while the market is still full of "irrational exuberance" considering reality.
I figure I only need a couple of boxes. I’ll use those to get more if I need any.
That’s the spirit.
Ever consider the idea that you may just be wrong?
...or that there may be other uses for ammunition besides holding off looters (I'm not figuring that the entire US military is coming after my rice...)?
For one, I plan to have some on hand to bag a bit of venison here and there.
I FINALLY found the survival info. A poster named Appleseed was running the ping list. The last time he posted was in August though....
In my opinion lawless feral city dwellers are their own worst enemy.
In New Orleans the first thing they did was mill around as water rose around their ankles. When the water got knee deep they went on a looting rampage for useless items like appliances and beer. And finally they collected in one place and waited for rescue.
If things had continued with no rescue they would have fallen to rioting. The survivors would have started walking out and I suspect they would stick mainly to the main highways and head for the next nearest city. Many would starve among plenty as they walked down a highway with acres of field corn on either side.
Generations of being taken care of has not produced many survivors.
.45 - the new coin of the realm...
No, I didn’t know it was gone.
Gold goes down as well as up. Gold was around $1,000 30 or so years ago, went down to around $200 10 or so years ago. Which is fine when their is an open market, but if private holdings and sales of gold are outlawed - what do you do then? If the value of gold declines or you need to make another investment or purchase what do you do?
I personally prefer 5.45X39 as my coin. ;-)
Personally I think the lone survivor type would be the first to fall. (unless they were really far out in the roadless sticks)
Obviously a gun is a needed tool but multiple guns, trigger fingers, and pairs of eyes are what really works. Even that goes out the window if you’re trying to defend yourself against government.
An elephant is a heavily armed and dangerous creature but a dozen hyeanas can take one down.
If you believe that Obama’s hard left turn and acceleration into socialism is bad for economic progress, then you should be out of the stock market. Now, if that is wrong, please tell me how.
I want to believe that American democracy is self-correcting and that the American economic system is strong enough to withstand even Obama. However, I am not willing to risk my wife’s financial security (as a man, I will die before we run out of retirement funds) on my hope that Obama’s socialism will quickly pass. 0.5% is a pitiful return that has its own problems when inflation is much higher, but 0.5% beats the hell out of -25%.
Just checked the US Mint. They didn't produce any in 09, and so far, I'm not seeing any on the 2010 schedule. Gonna have to find them on the open market I guess.
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