The market -- Nothing ever invented by man is as confusing and perplexing to man as the stock market.
I've received a bucket of e-mails regarding my call on the bear market. Most of the e-mails point out that the Dow is now almost at the same height as it was when the "bear signal" was called. My answer is, "So what?" The Dow Theory doesn't promise that after a bear signal is called, the market straightaway falls apart. A bear signal tells us that the main trend of the stock market is shifting from bull to bear, and that you should temper your actions with this in mind.
There's nothing magical about Dow Theory signals, but the vast majority of the Dow Theory calls have tended to be excellent guides to investing. I also note that the dividend yield on the Dow is now a very thin 2.52% and in dangerous ... Log in or subscribe to continue reading.
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