Wednesday, May 19, 2010

Richard Russell: SELL EVERYTHING!!!! By the End of the Year You Won't Recognize the Country

The dean of Wall Street Dow Theorists, Richard Russell  is out with a major sell advisory. Here's how he puts it:
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.


  1. Don't believe RR is a good practitioner of Dow Theory but do agree the equity markets have clearly signaled an end to the recent uptrend. What comes next is, as RW points out difficult to know.

  2. RR is always a great read, however his views of the market are really not too useful in the present, as he just confirms a trend change well after it has occurred.

    The trend in the market is clearly down and has been for a few weeks. Every rally is being sold, which is the opposite market action from the last year. We should get a nice bounce in the next few days, and my assumption is that rally will be sold as well at the end of the day. Crash or no crash, volatility in the markets is here to stay.