“Noted doomsayer Richard Russell’s latest missive contains a lot of…well, doom.
The author of the Dow Theory Letters, Russell writes on King World News that the “big money” — shorthand for savvy investors — do not like what they’re seeing in the market.
“My guess is that this is the big money that has been holding off as long as it decently can — and then dumping their goods just before the close. I don’t think the big money likes this market, and I think they have been slowly exiting this market, as quietly as they can.”
Russell is convinced something terrible is on the horizon for the markets. What it is ain’t exactly clear — a European depression? More bad housing news? Whatever it is, it’s time to plan for the worst.
“The big money tends to look out six months to a year or so, and there is something ‘out there’ that they see — but don’t like. Is it a rise in interest rates, is it the power of the Chinese yuan, is it a further collapse in real estate values?
“Honestly I don’ know what it is, but I’m convinced that there is an ominous something out there waiting to materialize. The big money, the institutional money, doesn’t want to be in this market when it materializes.”
Read the whole post at KingWorldNews.com > “
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LMAO if you can’t even put words to describe what you’re afraid of, you have no business writing a newsletter prophesizing death and despair.
By the pricking of my thumbs
Something wicked this way comes.
Signed,
Not a witch
There’s something happenin’ here.
What it is, ain’t exactly, clear.
There’s a man with a gun ovah there.
Tellin’ ME, I got to beware….
_________
It’s time we stopped.
Hey, what’s that sound?
Everybody look what’s going down.
On a more serious note, it is interesting that the SnP is a good 5% above where it was in April 2011 and yet the “professional” money is about 10% less invested than it was in April 2011;
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