Richard Russell writes:
At the La Jolla Rehab Center, I still read 10 papers and maybe 25 magazines every week, and let’s be honest. The news is so confusing that it is absolutely impossible to come to any sort of intelligible conclusion. I’m embarrassed to say that for the first time in six decades I don’t really know what’s going on. The Dow, the last few months has traveled thousands of points and ended up nowhere — actually as of yesterday’s close the Dow and the S&P were down for the year showing net losses for all the frantic activity. My advice, is to stay with gold, some cash, and Permanent Portfolio (PRPFX). I also think silver is particularly interesting here, and I advise the purchase of 10 oz silver bars. Buy them and pile them up in your bank vault.
The news is always confusing. That is simply not a new phenomena.
Russell has some great thoughts, but sometimes he mixes in views that dramatically confuse sound trend trading principles. Internal consistency is absolutely key for survival.