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 Welcome to Dow Theory Letters

A Leader and Innovator in Technical Stock Market Analysis

 for over 50 Years!

 

Founder Richard Russell's team of talented analysts work daily to bring you the best of primary trend analysis, investor education and intelligent investing advice.

 

How We Are Different

  • We believe in “market timing.” Our goal is to get you out at the top and in at the bottom of major, long-term market moves.
  • Daily edition. Dow Theory Letters is published daily, an hour after the market closes, at 2 pm, Pacific Standard Time. 
  • Value. We provide the analysis of our entire team to you for one low price.

 

What You Get

  • Daily market analysis from one of our outstanding columnists
  • "Richard's Wisdom" -- weekly column of selected past writings of Richard Russell, with commentary from the Dow Theory team relating them to market conditions today
  • The Primary Trend Index (PTI) our proprietary trend indicator
  • Market data section with everything you need to get a full picture of how the market is evolving

 

 


Quote of the Day

“Money grows on the tree of persistence.” - Japanese Proverb

Sentiment Surges

By Matthew Kerkhoff

  

Warren Buffet has such a trove of insightful investment quotes, and one of his best came in 2004. In his annual letter to shareholders, he wrote, “And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.”

 

There’s no doubt you’ve heard this quote before, as it’s a guiding light for contrarian investors, but I think it’s worth taking a moment to reflect upon it again. The reason, of course, is because we’re beginning to see greed permeate the markets for the first time in many years.

 

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Richard's Thoughts on Playing Against the Professionals

Richard’s Comments

 

I've been dealing with the stock market for 60 years (gad, that's a long time) or ever since 1946. My experience, and I hesitate to say this because it sounds cruel, is that most people lose money in the market over any extended period of time.

 

In my 60 years I've made a slew of mistakes, and I've also done a lot of things right – but most important, I've learned how to be a successful investor. I've learned with my own money and with other accounts that I manage. Finally, I think I know why most people lose money over their years of investing.

 

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China, China, China… The Sleeping Giant No More!

By Chuck Butler

 

Well, here I am… In S. Florida, soaking up the sun whenever I can.

 

It’s been “chilly” for S. Florida so far this winter, but the scoreboard showed today… S. Florida 68, St. Louis 16!   That’s a blowout! So, I remind myself all the time, down here, that it’s all relative compared to back home…

 

The currencies have really taken a HUGE step upward VS the dollar in the past week.

 

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The Psychology of Traffic

By Jon S. Strebler 

 

Just got back from five weeks of travel: twice up and back the length of the West Coast (once by car, once by air), interspersed by tooling around England, Oslo, and Spain for three weeks. The final leg home involved the tortuous ritual of driving through Los Angeles, with stop and go traffic even on a Sunday afternoon.   

 

I don’t care much for Randy Newman and his songs, never more so than his “I Love L.A.” We in San Diego love to hate L.A., our big, flashy, crowded northern neighbor that we bristle at being lumped together with in outsiders’ minds. 81 degrees at 4 pm in the middle of January, stuck and literally sweating in traffic – yuck!

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