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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Real Man who wrote (364824)4/8/2008 12:31:21 PM
From: carranza2  Read Replies (1) of 436258
 
Russell has been all over the map recently, calling it a most puzzling market for the reasons you mention.

In terms of Dow Theory, the market definitely does not confirm a bear market but it also does not confirm a bull market, either. Russell skates over this by calling it a correction within a primary bull market. Facile? I don't really think so. Just a bit more long-sighted than most of his calls.

I do think Russell is right in suggesting that the market has voted in Bernanke's favor and that it has confidence that the Fed will prevail should any catastrophe take place.

Russell has a history of being right in his calls. One of the two, along with Grant, to whom I pay attention.

Russell does not take into consideration the risks inherent in the brewing CDS fiasco. Perhaps he believes that it will catalyze the bear market he also sees coming.
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