Richard Russell's Blog

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Russell began publishing Dow Theory Letters in 1958, and he has been writing the Letters ever since (never once having skipped a Letter). Dow Theory Letters is the oldest service continuously written by one person in the business.

Russell gained wide recognition via a series of over 30 Dow Theory and technical articles that he wrote for Barron's during the late-'50s through the '90s. Through Barron's and via word of mouth, he gained a wide following. Russell was the first (in 1960) to recommend gold stocks. He called the top of the 1949-'66 bull market. And almost to the day he called the bottom of the great 1972-'74 bear market, and the beginning of the great bull market which started in December 1974.

The Letters, published every three weeks, cover the US stock market, foreign markets, bonds, precious metals, commodities, economics--plus Russell's widely-followed comments and observations and stock market philosophy.

In 1989 Russell took over Julian Snyder's well-known advisory service, "International Moneyline", a service which Mr. Synder ran from Switzerland. Then, in 1998 Russell took over the Zweig Forecast from famed market analyst, Martin Zweig. Russell has written articles and been quoted in such publications as Bloomberg magazine, Barron's, Time, Newsweek, Money Magazine, the Wall Street Journal, the New York Times, Reuters, and others. Subscribers to Dow Theory Letters number over 12,000, hailing from all 50 states and dozens of overseas counties.

A native New Yorker (born in 1924) Russell has lived through depressions and booms, through good times and bad, through war and peace. He was educated at Rutgers and received his BA at NYU. Russell flew as a combat bombardier on B-25 Mitchell Bombers with the 12th Air Force during World War II.

China Is the Real Potential Black Swan

As usual in bear markets, people are looking at the wrong thing. I don’t think the Greek situation will bring on trouble. The market doesn’t wait for trouble, it looks ahead – it discounts. So far, the stock market is snoozing...

Richard Russell: Buy Stocks As We Enter Market's Final Boom Phase

For a month, I’ve told subscribers that I believe we’re now entering the third phase of the bull market. Strangely, most market analysts – almost all of whom are considerably younger than I am – are not acquainted with the sentiment phases of a bull market...

Market Trends Still Bullish

A thousand opinions appear daily regarding business and the US economy, all in an attempt to forecast the forthcoming action of the market. There is only one study of the stock market that is worthwhile...

The Four Biggest Threats to this Bull Market

These are four of the biggest threats to the bull market. According to Hugh Johnson Advisors, first is the threat of oil skyrocketing over the turmoil in the Middle East, and natural gas prices soaring as Russia retaliates over U.S. and European trade sanctions.

Get Ready for the Mania Phase

One of the basics of Dow Theory is the thesis of three psychological phases in both bull and bear markets. In a bull market, which we are now in, the first or initial phase is the early accumulation phase.

Financial Doom: Is This Time Different?

The ’80s and '90s were extremely frustrating and unprofitable times for gold investors, yours included. Time after time, year after year, we thought gold was finally getting something going on the upside with never-ending promises of financial doom.

Is Something Ominous in the Cards?

For the first time in history, ALL the major central banks are printing money. One of two things will occur. If they continue to print, their respective currencies will lose their purchasing power, and we'll have inflation or even hyper-inflation.

Market’s Main Trend Remains Bullish

Here we see the Dow holding persistently and bullishly above its 200-day moving average. How long will this constructive situation last? Ah, if we only knew (I think it will be quite a while).

Glass More Than Half-Full

The unemployment rate dropped to 7.4% last week, the lowest since 2008; yet the report was “a disappointment.” Why? Well first of all, it was hardly all bad news – both the Dow Industrials and S&P 500 once again scored new all-time highs after its release on Friday.

Is Gold Undervalued?

These are not signs of an economy ready to collapse, nor one about to spiral into hyperinflation. Rather, they confirm what the PTI and Dow Theory have been telling us all along: It’s a bull market, and the US is doing a better job than most other countries in recovering from the Great Recession.

Time to Harvest?

So the writing is on the wall. Business and the world economy can't get much better. And the question -- what do we do about it?

Still a Bull Market in Stocks, Metals May See Further Declines

Here’s what’s going on with the markets, in my honest opinion. It’s a bull market in stocks, according to both the Dow Theory and the PTI, and has been since mid-2009.

Billionaires Selling Consumer Stocks: Red Flag or Profit Taking?

What do billionaires Warren Buffet, John Paulson, and George Soros know that you and I don't know? I don't have the answer, but I do know what these billionaires are doing.

A Bullish Market, Not for the Faint of Heart

One reasonable investment strategy is to buy stocks when they’re under-valued and sell them when they become over-valued. Another is to buy when the Dow Theory and PTI turn bullish, and then sell when they turn bearish.

How to Play an Overbought Bull Market

What happens when markets get over-bought? The answer is supposed to be: They go down. Yet most of us have been around long enough to know that things don’t always work out as they’re “supposed to.”