Richard Russell: Stay In Cash, Something, Something ‘BIG’ Is Heading Our Way
May 24, 2012
Bearish newsletter guy Richard Russell finds the market action to be very strange and ominous.
He’s specifically concerned by the endless grinding down of the Dow in a manner that’s steady but not yet panicky.
Here’s his reaction after yesterday’s market close, which was published on King World News
As of today’s closing, Dow down 14 out of 16 sessions! This is one you can tell your kids about. And still no collapse in breadth, and still no crash. The only thing I can make out of it is that a lot of people are “standing their ground.”
Maybe it’s just the Dow that is dying, and the rest of the market is OK. But don’t you believe it. The Dow represents the manufacturing capabilities of the United States, and when you see the Dow doing what it’s doing, you can be sure that somewhere ahead business is going to take it on the chin.