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 ...
While there might be some truth to this, if people do what he says that will of course MAKE that result come true.
Selloffs are what CAUSE crashes. Well, they’re one cause. Again, not saying it couldn’t happen (I’m scared sh*tless lately) but part of me thinks he *wants* this to happen.
I think most people are waiting on the outcome of November to determine whether to go into full survival mode.
However, you should think about what you’re gonna do if November election day comes and goes and the same folks are still in power, especially if this outcome is due to obvious shenanigans.
Think about what you’d do in that “what if”, and start planning to do it NOW.
Where are you going to buy food stores? Water stores? Alternative energy? Guns & ammo? Gold & silver?
Get these things LINED UP, even if you don’t buy them now.
I wasn’t paying that much attention, so I don’t remember the name, but on CNBC they interviewed someone who predicted Dow 5000 by year end.
Maybe if everyone is predicting doom and gloom, it won’t happen.
Good practice run...
This is where I sell my money. :) APMEX
Stocks and bonds are considered liquid assets. That’s what he is referring to.
Amen ... I’ve enjoy the blessings since childhood, but i remember what it was like to not have so many ‘needs’.
buy property, buy stockpiled foods, lots and lots of ammo for the entitlement zombies.
Move away from the big cities.
They are filled with looters and entitlement zombies.
Time to buy...stocks are on sale.
Do a freerepublic search for ‘Arm Your Neighbors’ ...
Depends on what you're defining as 'money.'
If you're talking about rectangular green pieces of paper/linen debt instrument, maybe you should consider exchanging this alleged 'money' for a commodity like gold, silver, ammunition, food, or other preparation items.
Even if one only exchanges 10% of his 'money' for assets, at least the result is something tangible in the event of a monetary collapse.
It's just good insurance.
In the gold market.
How do you short a stock? I’d like to short the whole damn market.
Good question. Likely not.
If he was, I might listen to him now.
Spent or unspent? ;-)
This is not DU.
There was a time on FR where it was possible to disagree with someone without resorting to ad-hominem attacks like 1st graders or DUmmies.
Come on gents...
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