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Richard's Remarks

 

I received the Dow Theory bear market signal in early May. And I confess that I was a little nervous about calling it a bona fide bear market signal. You can be bullish and wrong and your subscribers will forgive you. But if you're bearish and wrong -- they consider it worse.

 

To be bullish and wrong means that your subscribers are holding stocks in a bear market, and to me, that's the worst market sin of all. It's OK to miss a rally, but it's not OK to take a big loss. So I stuck with my bear call. I told subscribers that the market does not have to fall apart immediately following a bear signal, and this market rallied following the bear signal. So we'll see what lies ahead. After yesterday's action, I would think that Bernanke would be gassing up the helicopters. Bernanke just needs a tiny excuse ... Log in or subscribe to continue reading.


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