"As a technician, I feel that there are few analysts that offer value for me, but you do. Your work on Gold ratios has helped my analysis greatly." --Jordan Roy-Byrne, CMT (The Daily Gold) 4.9.10

Thursday, May 3, 2012

Bad news for stock bulls...

Richard Russell, 12.13.11  "Instructions: Be out of ALL stocks including mining stocks [later amended to 'except mining stocks'] if you've not done so already."

Richard Russell 5.3.12  "Market Wants to Go Higher"

Again, I have no problem with people being wrong.  We all are now and again.  But it's this "instructions" thing that I find to be the height of arrogance as I suspect RR's reader base includes a healthy proportion of little old ladies who do what they are told by authority figures.

A scary thought with regard to a coming gold stock bottom is if he is still bullish gold and the mining stocks.  I hope not.

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2 comments:

  1. Even Russell has to be wrong in 'being wrong' now and again no?

    So if he likes GM stocks, maybe this is the time he is wrong (as a contrarian indicator)?

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    Replies
    1. Yup, even Russell and certainly me. Everybody's wrong sometimes. It is just the 'Instructions' thing that rankles me.

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