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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

“There is no education like adversity.” - Benjamin Disraeli

Richard’s Thoughts on What Is and Is Not Dow Theory

Richard’s Comments

 

The essence of Dow Theory, and this may shock a lot of amateur so-called Dow Theorists, is VALUES. In his writing, Charles H. Dow stressed values above everything else. William Hamilton and Robert Rhea put a lot of emphasis on the action of the Averages (which Dow did not do), and later during the '70s George Schaefer went back to basics and re-emphasized values.

 

"To know values," wrote Dow, "is to know the meaning of the market." Dow advocated buying stocks when stocks represented great values, and then selling stocks when they became overvalued. As for value, Dow placed his main emphasis on yields or the return on the investment.

 

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Bill & Ted’s Excellent Adventure Reincarnated!

By Chuck Butler

 

When my oldest son, Andrew, was younger, he had a good friend, Josh. He was either at our house or the two of them at his house every day, with sleepovers on the weekends.

 

One weekend, I rented a movie for us to watch called Bill & Ted’s Excellent Adventure. I loved it, and the boys adored it, and watched it over and over again for weeks (we just kept renting it each time)! The story in the movie has been on my mind for years now ... Andrew is 36 now, so this was a long time ago!

 

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Daily Recap

Stocks exhibited signs of relief that the world did not explode overnight, and so recovered much of yesterday's losses.  The Asia Dow rose 0.64% and the STOXX 600 gained 0.28%, with virtually all major markets trading higher.  Brazil added onto yesterday's big gains, with a 0.94% rise.  Both the NASDAQ and the S&P Small Cap index rose to new all-time highs, with the Dow Industrials again lagging the market as a whole.

 

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Slytherin Metals

by Jon S. Strebler 

 

Richard Russell became interested in gold as an investment – as real money – back in the 1960s. His buddy Jim Dines may have been “The Original Gold Bug,” but Richard was right in there with Jim, Harry Schultz, and other heavy-hitter goldbugs that earned so much notoriety in the 1970s. Richard loved gold, and right up to his last days, he had a hard time saying anything other than “Buy,” regardless of the yellow metal’s outlook at any given time. For decades, his subscribers were mostly on board with him; they liked gold’s (and silver’s, to a lesser degree) story.

 

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