Bankruptcy

Same Song, Different Composer

By mcbride

Here is a note from another respected Wall Street advisor saying the same thing that the folks at Elliottwave have been saying, as previously noted here: sell, sell, sell.  ?WHOA! Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today’s note:  Do your friends a favor. Tell them to “batten down the hatches” because there’s a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don’t need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won’t recognize the country. They’ll retort, “How the dickens does Russell know — who told him?” Tell them the stock market told him. That’s pretty intense!? ”?I see a major crash as the outcome. Pul - leeze, get out of stocks now, and I don’t give a damn whether you have paper losses or paper profits!?

Here is a link to this story:  http://www.businessinsider.com/dow-theorist-richard-russell-sell-everything-liquid-you-wont-recognize-america-by-the-end-of-the-year-2010-5

Michael

Full post as published by Texas Lawyer Blog on May 18, 2010 (boomark / email).