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 ...
Careful with that. With the rest of the world going to hell in a handbasket, if Conservatives take control of the US in November money will flood the US as the only safe place to invest. Everything is relative. With the right legislation passed, we will be considered the only going concern in the world.
Note: I said if Conservatives take control, not Republicans.
Our legislators cannot specify what part of the existing Constitution permits them to mandate the people buy health insurance, what part of the Constitution permits them to declare CO2 a pollutant, what part of the Constitution permits them to convey property from one citizen to another with no limits, or to distribute private assets to their whim. They are totally out of the bounds of out written Constitution - and are absolutely lawless.
Yup. Thought it funny that Y2K people always wanted one to have a crank radio on hand, to hear the news. Though it would at least take a patent infrastructure that can deliver the 100KW to a broadcast station to deliver same.
The military should have something that can and will survive an EMP attack, IMO.
There are 80 million gun owners in America today. A LARGE number of those are preppers and survivalists and oath keepers and militia types.
If some fed showed up at my place demanding gold or silverI would shrug and say "take all of it you can find" while I sat there reading my John Ross novel.........
This reminds me of the old movie where the survivalist advocate turned out to be a scammer who owned stock etc.
How much of this doom and gloom is just to create churn for profit in the market?
Thoughts On Urban Survival (Post-Collapse Life in Argentina)
http://www.freerepublic.com/focus/news/1511641/posts
What Good Can a Handgun Do Against an Army.....?
http://www.freerepublic.com/focus/backroom/2312894/posts
As long as you can afford to pay the ever escalating property taxes!!!
Zero debt...check.
100k cash...check.
20k rounds ammo...check.
Reloading equipment...check.
NVG’s...check.
Any other recommendations?
Number one on your list should be food.(then the other stuff on your list.)
That's the first thing you'll need when you wake up one morning and discover that the world has changed forever and there's already no food in the grocery stores.
Get some junk silver and maybe a little gold.
I have nickels too...they're 75% copper and 25% nickel.
LOL, my grandfather owned a restaurant and was an avid coin collector. I couldn’t count the numbers of nickels and old pennies under the house. 100,000+.
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.
I’m buying, and I’m serious about helping freepers to get more liquid.
Still, I’d advise hanging onto your gold, and selling your Jet-Ski or Quad ATV instead.
I have an old (bakelite) radio with tubes that still works. I’m saving it to use after the EMP attack.
I’m telling everyone to stock up on can goods. Do they? No.
It also happens to be published by a Freeper who I know and trust.
Yup...I have the walkie talkies, radios and etc in 55 gallon drums. (Hee, hee...even a small microwave oven). My electrical generator was bought in 1979 so it's okay.
If the value of gold declines or you need to make another investment or purchase what do you do?
Cheers!
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