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Down Day Worrisome

By Richard Russell

 

I don't like the way the stock market is looking. Today as I write we have triple digit losses in the Industrials the Transports and the NYSE is below 10,000, which I don't like.

 

My best bet is that in due time the NYSE will test 8,000. I am increasingly afraid that we are in a bear market. This could mean that stocks will test the lows of July 1932.

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I’m getting long pieces that newsletters are sending out in an effort to generate sales. I’d say half of them are talking about huge upside explosions, and stocks that you should buy. Others present a picture of disaster, and stocks you can short to make money in the coming disaster. I refuse to participate in this game. My stance is neutrality. Although in my gut I feel that the market is heading down. 

 

Before the Federal Reserve took over the markets, I was usually able to make ... Log in or subscribe to continue reading.


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