Richard Russell: ‘GET OUT OF STOCKS’
Dec. 15, 2011
Wow. Richard Russell’s latest newsletter may his most bearish commentary yet.
Russell says the greatest sucker’s rally in history is coming to a brutal end. He says you should start buying gold and “GET OUT OF STOCKS.”
Here’s an excerpt via King World News:
This current bear market rally is comparable to the tragic fooler bear rally that followed the 1929 crash. But in extent, this bear market rally (I’m talking about the one that followed the 2009 low) was even greater than the 1929-1930 rally. And just as 1929-1930 fooled many investors, who re-entered the market thinking that they would recoup their 1929 losses, this giant 2009-2011 rally sucked in thousands of hopefuls back into the stock market again.
The great bear market rally is now about over, following a very long period of deceptive distribution. I am warning all my subscribers again that we are back in the grip of a vicious and ruthless bear. The bear has been held back for almost two years, due to the so-called quantitative easing of an anxious and ignorant Fed. There’s no bear angrier than a frustrated bear. As a result, I believe we’re going to see a brutal stock market that will shock the Fed and the bulls and the public — and all who insist on remaining in this bear market.
I think we’ll see selling of gold to cover losses (particular losses by the short sellers), but ultimately gold will be the last man standing. But most important — GET OUT OF STOCKS.
I’ve been watching the Bloomberg TV channel all day. I ‘ve heard nothing but gold is falling and is in a bear market plus a never-ending list of stocks to BUY! Nobody’s talking about selling or the possibility that we’re in a bear market.
I write about markets; this site is just not a substitute newspaper. Watch to see whether any newspaper or advisory comes out and declares that we are back in a major bear market. This bear market will leave its mark on everything: housing, commodities, banks, employment, consumers, retail sales, and nations around the world. It will go down in history. Sell your stocks. Get as liquid as you can. The ultimate liquidity is Constitutional money — gold and silver.
I might be early, but I’m giving you the big picture — the one that counts in the end.