May 19, 2010
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 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. The gist is that the markets recent gyrations are telling him that the economy is in trouble:
This article was posted: Wednesday, May 19, 2010 at 1:09 pm