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 ...
>>Stupid. You will die surrounded by boxes of ammo.<<
I experienced the aftermath of hurricane Ike. Power out for two weeks in many areas, store shelves pillaged, fuel shortages.
People being robbed, burglarized, beat up for cutting in gas lines and the like.
People were starting to get desperate....and stupid.
Trust me, you can never have too much ammo.
How many rounds did you have to put into fellow human beings in that situation? My point is that the first time you have to kill in self defense, the legal system (if it still exists) will seize control of your life.
New York City
No one wants to harm another human being, that is a terrible thing.
With that said, my family comes first. If there were an emergency and someone attempts to harm my loved ones or attempts to steal what is not theirs.....well, guess there gonna go talk to Jesus about it.
No hatred, no malice, no premeditation, just exercising my right to self defense.
It's really that simple.
I agree. Cause a panic and then he’s right.
Do they buy silver bars?
I’ll short the whole dam country...no, the whole dam western hemisphere.
www.apmex.com will buy silver bars of 1 toz, 5 toz and 10 toz as well as other coins/bars. They actually post the buy price next to the sell prices for some of the products they sell to the consumer. I personally buy silver bars/bullion coins from www.providentmetals.com, and the coins I choose can be sold on www.apmex.com because the first vendor has better prices and the second vendor is my buyer in case I choose to sell.
Thank you. I’ll check apmex out. It’s 100 oz bars - a bummer to ship!
You are welcome.
>> any stock market “expert” who’s always Bearish or always Bullish is always useless.
Nah, they can be useful. The key is knowing which one to listen to at any given moment. :-)
Look to Dan Sullivan, publisher of “The Chartist”, an excellent market timer over the 20 years I’ve been following him. He is advising to get out of stocks now. He does follow high beta stocks, so I hesitate, having developed a nice collection of high dividend paying stocks.
From my experience, the only game left to the human in this market is to buy overwhelmingly solid growth (AAPL), safe, high-dividend paying (BMY, MO, WIN), and asset rich companies. Take advantage of the machines by putting in cheeky GTC low-ball limit buys on them (AAPL,211 MO,16 WIN,8.50). When the machines go insane for a few minutes, we've got 'em, maybe even be able to put them out of business. (Note: owner of all mentioned stocks)
What? You’re going to survive long enough to bury the dead? What a thing to hold out for!
You think we live under a Constitution these days? The Feds are lawless, corrupt, and out of control of the written Constitution.
Booze and cigs are much to bulky to be a store of value in an emergency. Gold is preferable because I can carry around hundreds of thousands of dollars of current value in an inconspicuous way. Try that with Jack Daniels. A little knowledge can produce booze and tobacco at a cheap price (sans absurd taxes). Lots of capital are needed to produce pure gold.
You think we live under a Constitution these days? The Feds are lawless, corrupt, and out of control of the written Constitution.
Yeah, actually, I think we still live under the Constitution. No one has scrapped it, we've still got the Supreme Court, and we still have the three branches of government, we're still electing representatives (even if they aren't always the ones that we want, but we do get ours in there, too), and the laws are still made and prosecuted and people are imprisoned, due process is still being done, and all those other things that have been done in the past are still being done now.
What you're talking about is that the "policies" and the "legislation" that is being voted on and passed is not what we want to see... but that's a matter of politics.
Now, the fact of whether the Constitution is still in effect is going to be see by the process that is used to challenge "Obamacare" (for one example). If it gets challenged and a case is brought forth and the case is heard, and it makes it up to the Supreme Court and the Supreme Court hears it based upon the Constitution -- then yes... the Constitution is still being used ...
You will hear a lot of static - good luck!
I read that to mean you don't think anyone will be transmitting, eh?
Perhaps it is.
But if you can "attrit" the hoards a little before they overtake you, you will have still done your neighbors a final service.
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