Russell Warns Investors To Be Completely Out Of The Stock Market

On the heels of continued uncertainty in global markets, the Godfather of newsletter writers, 91-year-old Richard Russell, warned investors to be completely out of the stock market.

Richard Russell:

“The Fed is still wrestling with the idea of raising rates. Ironically, raising rates could help business. A rate rise would allow the small banks to make needed loans to small business. When small business gets moving, inflation could move up, which explains why gold is creeping higher.

The stock market is taking a possible rate increase as a negative omen. As I write at mid-day, Industrials are down 113, Transports are down 20 and the NASDAQ, which has become more and more of an indication of market direction, is down 41. However the big 1,000 even numbers are holding with Industrials above 16,000, Transports above 7,000, and the NASDAQ above 4,000.

A Bearish Omen

Frankly, I don’t like the way the stock averages that I follow closely are all dropping today in unison. If the Dow breaks 16,000, I’ll consider it a bearish omen for the entire market.

Concerning individual stocks, Apple is down .53 to 112.76. If Apple breaks below 100 I will consider this a major negative signal for the entire stock market.

Get Out Of The Stock Market And Own Physical Gold & Silver

I am satisfied with my recommendation to you all to get out of the stock market and stay safely in pure wealth, better known as bullion silver and gold. I have wondered why I have lived to the tender age of 91. I think my purpose is to guide you into what could be a very difficult future. So sit tight, I love you all, and don’t forget to love yourselves.

Late Notes —  For a hopeful bull, today was a bit disappointing. I’m still very much afraid that we could be in a bear market, although we have no proof. I feel there is still a lot of fear in the market, and people are ready to dump stocks on any negative sign. From the standpoint of safety, you should be out of the market completely and in be secured in silver and gold bullion.

Gold pays no dividend or interest and therefore cannot be used to generate the magic of compounding. But gold is a permanent unit of eternal wealth, unlike any other investment. If you have enough gold then you’ll always be wealthy..."