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 ...
“In fact, I’ve said it’s the “Great Depression” even while other FReepers have been telling me that I’m crazy ... hoo-boy!”
Even if you’re right... you’re still crazy.
;)
I guess I owe my parents thanks for hard lessons learned when I was young. Like the song says, a country boy can survive.
More gloomy predictions:
Why Dow 5000 Is Still ‘Very Likely’: Strategist
http://www.cnbc.com/id/37190967
Last week, David Hefty, chief executive of Cornerstone Wealth Management, warned investors of a sudden market “freefall,†sending the Dow below 5,000.
“The Dow 5,000 piece is very likely—that’s not even the extreme low,†Hefty told CNBC. “It only takes a few hedge funds to get that margin call.”
March 2009 Lows Will Be Tested: Strategist
http://www.cnbc.com/id/37205731
The stock markets’ March 2009 lows could be tested and even broken as sovereign debt continues to grow in Europe and stimulus measures wane, Philippe Gijsels, head of research at BNP Paribas Fortis global markets, told CNBC.com Tuesday.
Of course, as I said, if everyone is bearish, maybe the bottom won’t fall out afterall.
Most families own some fine jewelry. It may not be alot, but still it is a source of gold for sale. Best place to sell it is www.usgoldbuyers.com. They are located in NYC and offers 90 percent of spot price. Do not go to pawnshops or other advertised gold buyers because they offer substantially less. Furthermore, usgoldbuyers post their buy prices of gold. You can send it to them by or walk into their NYC office in the diamond district. Interesting note - Sears and K Mart is starting a service that will buy gold from customers.
Which keyword do I use to find the survivalist thread?
Do I need to know the secret knock, or what? There used to be a lot of good recipes and stuff on there, but I can’t ever get to it!
:(
btw, great blog, ladybug. I recommend it.
It’s cool beans, you guys!
42% accuracy rate for this “guru”? Hrm.
I believe there are serious problems brewing, but you’ll have a better success rate NOT listening to this guy.
http://www.cxoadvisory.com/individual-gurus/richard-russell/
Ain’t that the truth!
*applause*
Post of the day!
any stock market “expert” who’s always Bearish or always Bullish is always useless.
What my guy says to me is that over time, you should buy stocks when they are cheap relative to their value and earnings, and sell them when they are expensive, and you’ll do better than trying to figure out the macro environment, which is a kaleidoscope of confusion. Right now, stocks are pretty expensive. Not a great time to be buying, but these guys who are literally trying to incite panic with their florid language irritate the hell out of me.
Title search resulted in "Nothing matched your criteria."
Except some of us are living in democrat towns where the community looking good on the outside is more important than survival. So you can’t have a fence large enough to provide any security or privacy. And you can’t raise chickens.
The government doesn’t want anything resold unless it’s been tested for toxicity so there go the garage sales...
We built our deck out of bricks we got from the city dump after the cobblestone street was replaced about 10 years ago. We made our retaining wall out of concrete chunks from the dump after they removed some sidewalk. Now they won’t let anybody get anything from the dump.
And they would probably say that they are the “green” ones.
I adjust my stock and possible procedures as necessary.
That's good, you never know how things will turn out with that situation. I recommend stocking up on vacuum tubes; I don't trust the new integrated circuits that are coming.
LOL ... yep, there are some who would say that, too ... :-)
If you trade online, the trading site will guide you to it.
http://beginnersinvest.about.com/cs/newinvestors/a/022703a.htm
You can also short the entire market of NYSE, or Nasdaq.
Good luck!
Sorry, I don't trust gold.
Governments can confiscate it.
Remember, Obama is president and he thinks he is the reincarnation of FDR.
See post 56.
Southhack had a good post about surviving the coming adventures ... that song came to mind.
But another thought also popped in: It's Papagallos line from 'Road Warrior", to Mel Gibbsons' character (Mad Max); Goes to the effect of ;" A scavenger, that's what you are, living off the bones of the old dead world..."
Hmmmmm
While I doubt we'll see any gay biker gangs in assless chaps, putting a bit extra away won't hurt.
I'm pretty liquid now myself....more cash than assets. And I don't feel all that good about it...
Rock and hard place come to mind.......
Do you think that the looters can’t find you out in the woods?
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