Richard Russell: Gold & When the Bear Market in Stocks Will End

Tuesday, June 5, 2012
By Paul Martin

KingWorldNews.com
June 5, 2012

With continued volatility in global markets, the Godfather of newsletter writers, Richard Russell, warned his readers to ultimately expect a nasty decline in stocks because “bear markets operate within a background of naked fear.” Russell also stated, “I no longer see a BIG correction ahead for gold.” Here is what Russell had to say: “How far will the bear market carry? No one knows. Already all of 2012′s gains have been wiped out. There’s a number down there to where the bear market is heading. I don’t know what that number is. Dow 8,000? Dow 6,000? Dow 4,000? Dow 2,500?”

Richard Russell continues:

“The number could be any one of these. What I hope is that we get to that number as quickly as possible. I just hope we get the pain of the bear market over as fast as possible. One mistake is to think we know how costly the bear market is fated to be — and how far the bear market will carry. The Primary trend is a law unto itself. It will continue until it dies of exhaustion.

In the meantime, the bear market goes on. I’m afraid it has a long way to go. But we will survive. In all seriousness, I feel it is my duty to help my subscribers to survive and weather this bear market.

DANGER — A primary bear market has been signaled according to Dow Theory. On May 1 the Dow Industrials rose to a high of 13,279.32. The Transports failed by a wide margin to confirm. The two Averages then turned down and broke below their April lows. Under Dow Theory, this was confirmation that a primary bear market is in progress.

The Rest…HERE

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