Famed Dow Theorist Richard Russell Makes Bullish Call

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After being bearish for much of the past four years, Dow Theory Letters publisher Richard Russell said now was a good time for investors to “take a chance” and purchase the SPDR Dow Jones Industrial Average (DIA).

Russell sees Dow Theory confirming this rally as he recently wrote:

“I really believe that subscribers should take a flyer on this market. After all, after weeks of flirting with a new high in the Industrial Average, the Dow finally confirmed the previous record high of the Transportation Average. With the Industrials and the Transports both in record high territory, I think being in the market is justified under Dow Theory.”

Back in April 2011, it was reported that Richard Russell no longer believed in market timing [link].

Below is an interesting video from the Casey Research Gold and Resource Summitt held in October 2010 where Russell discusses what he sees as a 13 year bear market which commenced in 2007, and the virtues of investing in gold:

Source: Business Insider

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