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Main Trend is Bullish

By Richard Russell

 

As I write the Dow is up 6 and nicely above 17,000. Against that, the Transports are down 13 but still well above 8,000. The Nasdaq is down 30 to 4,850, and the NYSE is down 55 but still well above 10,000.

 

Today would appear to be a short-term correction but I continue to believe that the main trend is bullish.  No change in my advice for investing over the long term, precious metals should hold their value and be relatively safe. The good news is that president Putin of Russia appears to be peace minded and willing to work with the US.

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The weather in California has finally cooled off and we now have beach weather, which is strange when you consider that this is October. I'll probably go to the beach on Christmas day. The ocean recently has been 73 degrees, the warmest I can ever remember.

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