Posted by lessarda on 14th of Sep 2011 at 11:40 pm
and a few months ago was saying that no bear market had ever
started from where the Lowry buying power and selling pressure
readings were then. But now that they are to a sell point, Russell
basically ignored the signal today, saying that one "can't be
bearish" until the Dow cracks below 10K again.
His 'trusty PTI' has also been negative recently for the first
time since 2009 and he is mostly ignoring that too. But what he
thinks & writes day to day is tied to his changeable moods. He
hasn't mentioned Dow Theory more than a few times in the past
months, which is supposed to be his focus. Not a rant, but he
didn't trust his bullish PTI on the way up and now he's almost
bullish as it wavers around the 0 mark. Just shows how hard it is
to trust the numbers.
All he really trusts is gold, gold, gold, and he's been right on
that for a decade, like Shilling has been right for 30 years on the
30 year treasury. Have to credit them both on those calls.
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Russell often cites Lowry as a key input...
Lowry's issues sell signal today...from Russell
Posted by lessarda on 14th of Sep 2011 at 11:40 pm
and a few months ago was saying that no bear market had ever started from where the Lowry buying power and selling pressure readings were then. But now that they are to a sell point, Russell basically ignored the signal today, saying that one "can't be bearish" until the Dow cracks below 10K again.
His 'trusty PTI' has also been negative recently for the first time since 2009 and he is mostly ignoring that too. But what he thinks & writes day to day is tied to his changeable moods. He hasn't mentioned Dow Theory more than a few times in the past months, which is supposed to be his focus. Not a rant, but he didn't trust his bullish PTI on the way up and now he's almost bullish as it wavers around the 0 mark. Just shows how hard it is to trust the numbers.
All he really trusts is gold, gold, gold, and he's been right on that for a decade, like Shilling has been right for 30 years on the 30 year treasury. Have to credit them both on those calls.