Richard Russell's Blog

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Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter). Dow Theory Letters is the oldest service continuously written by one person in the business.

Russell gained wide recognition via a series of over 30 Dow Theory and technical articles that he wrote for Barron's during the late-'50s through the '90s. Through Barron's and via word of mouth, he gained a wide following. Russell was the first (in 1960) to recommend gold stocks. He called the top of the 1949-'66 bull market. And almost to the day he called the bottom of the great 1972-'74 bear market, and the beginning of the great bull market which started in December 1974.

The Letters, published every three weeks, cover the US stock market, foreign markets, bonds, precious metals, commodities, economics--plus Russell's widely-followed comments and observations and stock market philosophy.

In 1989 Russell took over Julian Snyder's well-known advisory service, "International Moneyline", a service which Mr. Synder ran from Switzerland. Then, in 1998 Russell took over the Zweig Forecast from famed market analyst, Martin Zweig. Russell has written articles and been quoted in such publications as Bloomberg magazine, Barron's, Time, Newsweek, Money Magazine, the Wall Street Journal, the New York Times, Reuters, and others. Subscribers to Dow Theory Letters number over 12,000, hailing from all 50 states and dozens of overseas counties.

A native New Yorker (born in 1924) Russell has lived through depressions and booms, through good times and bad, through war and peace. He was educated at Rutgers and received his BA at NYU. Russell flew as a combat bombardier on B-25 Mitchell Bombers with the 12th Air Force during World War II.

Time to Harvest?

So the writing is on the wall. Business and the world economy can't get much better. And the question -- what do we do about it?

Still a Bull Market in Stocks, Metals May See Further Declines

Here’s what’s going on with the markets, in my honest opinion. It’s a bull market in stocks, according to both the Dow Theory and the PTI, and has been since mid-2009.

Billionaires Selling Consumer Stocks: Red Flag or Profit Taking?

What do billionaires Warren Buffet, John Paulson, and George Soros know that you and I don't know? I don't have the answer, but I do know what these billionaires are doing.

A Bullish Market, Not for the Faint of Heart

One reasonable investment strategy is to buy stocks when they’re under-valued and sell them when they become over-valued. Another is to buy when the Dow Theory and PTI turn bullish, and then sell when they turn bearish.

How to Play an Overbought Bull Market

What happens when markets get over-bought? The answer is supposed to be: They go down. Yet most of us have been around long enough to know that things don’t always work out as they’re “supposed to.”

Value and the Dow Theory

Back in 1974 I taught a course at San Diego State University on the stock market with special emphasis on Dow Theory and technical analysis. I had a large class of over 100 students. I also had one outstanding student named Jon Strebler.

Dollar Shows Serious Signs of Trouble

So let's face it, we're seeing a currency war, better known as "beggar thy neighbor." And it's all courtesy of the various central banks' ability to create fiat currencies out of thin air. The winner will most likely be the Chinese yuan. The loser will probably be the world's current reserve currency -- the US dollar.

Squaring the Roundtable

I read this week's Barron's famous Roundtable discussion very carefully over the weekend. I've read their Roundtable talk-fests for years, but this one was the most argumentative and least conclusive of any that I can remember.

Caution: Crowd Turns Wildly Bullish

I just went through the latest issue of Barron's. You can read the various articles any way you like -- they can be interpreted as bullish or bearish.

What’s the “Big Money” Doing?

The action of the big money, the sophisticated money, tends to lead the markets. In view of that, let's ask ourselves what the "big money" is doing now. We hear that classic art pieces like the Klimpt painting and Munch's "The Scream" are going for well over $100 million.

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