With continued uncertainty in global markets, the Godfather of newsletter writers, Richard Russell, warned, “You can be sure that the bear market will try to make you believe that you should be in this market.” Russell also cautioned that “Money is rushing around the globe in a mad search for income and safety.” Here is what Russell had to say: “I’ve always found that it’s difficult explaining the action of the primary trend to new subscribers. The best way to describe the primary trend is to compare it with the great tide of the ocean. Once the tide turns down (as now) I compare it to a broad irresistible force. It’s a force that can’t be timed or described in detail.”
Richard Russell continues:
“It’s an invisible force, but it exerts a pull that has an effect on almost all stocks. The weaker stocks are swept along rapidly by the primary trend, while the stronger stocks are pulled along more slowly. I don’t know exactly how the market will be down, whether the decline will be slow and subtle or whether it will be a series of sharp declines.
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