“Disregard the amateur warnings and ride the gold bull,” says Richard Russell

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The remarks below come from 86-year old Richard Russell, writer of the daily Dow Theory Letters. Russell has been bullish on gold  from just about the start of the nascent bull market in 2001.

“Lately there’s been a tide of uninformed warnings to the effect that gold is in ‘a dangerous bubble’. These anti-gold know-nothings haven’t seen a gold bubble yet, but I’m predicting that a phenomenal gold surge (call it a ‘bubble’ if you like) lies ahead. The only thing the recent gold correction has accomplished is to encourage the gold-haters and to knock the amateur traders out of the gold market.

“Gold is in a true primary bull market, and the bull’s number one task now is to rise with as few riders on his back as possible. This is the reason for recent erratic (and probably scary) gold action. As for my subscribers, my advice is ‘Disregard the amateur warnings and ride the bull’.”

Source: Richard Russell, Dow Theory Letters, January 19, 2011.

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2 comments to “Disregard the amateur warnings and ride the gold bull,” says Richard Russell

  • [...] post? If so, click here to subscribe to updates to Investment Postcards from Cape Town by e-mail. “Disregard the amateur warnings and ride the gold bull,” says Richard Russell was first posted on January 20, 2011 at 10:00 am.©2011 “Investment Postcards from Cape [...]

  • Gregg G.

    Loved it! –FYI? I dislike Gold in ways I can not even (politely) write here. I will send a copy of my comments in reply. Simple version is: I would not own gold if it were given to me! (I’d give it back!) but fyi?-Richard Russell is one of the 1st & original analysts (who) inspired me to do technical analysis! I adore the guy! Cant say enough to compliment his years of contributions to the Free Capital markets ! Aloha “BC Gregg” Honolulu Hawaii

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