http://goldstocksfor...ers-dies-at-91/
Richard Russell
Started by
CRUISENAL
, Nov 24 2015 08:39 AM
4 replies to this topic
#2
fib_1618
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Posted 24 November 2015 - 09:00 AM
As Tom McClellan shares:
"Russell also helped to put the A-D Line on the map in 1962, when both he and Joe Granville wrote in their newsletters about the big A-D Line divergence which had appeared in 1961, just ahead of a 27% decline in the DJIA in 1962. A-D data had been watched by just a handful of people since 1926, when Leonard Ayres and James Hughes of the Cleveland Trust Company first started tabulating it. After Russell and Granville publicized the story of its big 1961 divergence, suddenly a supposedly arcane bit of technical analysis was seen by a few (not everyone) as having value if it could warn ahead of time about an impending selloff. Remember that this was in the days when chartists hid their chart books for fear of being outed, and possibly fired, for believing in such voodoo. But Russell and Granville were not afraid to look at what the actual data say."
Obituary
"Russell also helped to put the A-D Line on the map in 1962, when both he and Joe Granville wrote in their newsletters about the big A-D Line divergence which had appeared in 1961, just ahead of a 27% decline in the DJIA in 1962. A-D data had been watched by just a handful of people since 1926, when Leonard Ayres and James Hughes of the Cleveland Trust Company first started tabulating it. After Russell and Granville publicized the story of its big 1961 divergence, suddenly a supposedly arcane bit of technical analysis was seen by a few (not everyone) as having value if it could warn ahead of time about an impending selloff. Remember that this was in the days when chartists hid their chart books for fear of being outed, and possibly fired, for believing in such voodoo. But Russell and Granville were not afraid to look at what the actual data say."
Obituary
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“Wise men don't need advice. Fools won't take it” - Benjamin Franklin
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#3
tria
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Posted 24 November 2015 - 09:33 AM
I owe a lot to Richard Russell, may he rest in peace.
In early 2000 he was promoting the idea to buy the PM miners as they traded at prices that looked like Perpetual Warrants.
Needless to say, I bought this view that seemed correct at the time and made a small killing.
http://www.chartsrus...php?ticker=^GOX
-tria
In early 2000 he was promoting the idea to buy the PM miners as they traded at prices that looked like Perpetual Warrants.
Needless to say, I bought this view that seemed correct at the time and made a small killing.
http://www.chartsrus...php?ticker=^GOX
-tria
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
#4
pdx5
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I want return OF my money more than return ON my money
Posted 24 November 2015 - 06:38 PM
I owe a lot to Richard Russell, may he rest in peace.
In early 2000 he was promoting the idea to buy the PM miners as they traded at prices that looked like Perpetual Warrants.
Needless to say, I bought this view that seemed correct at the time and made a small killing.
http://www.chartsrus...php?ticker=^GOX
-tria
I am hearing PM miners are again trading very cheap!
"Money cannot consistently be made trading every day or every week during the year." ~ Jesse Livermore Trading Rule
#5
tria
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Posted 25 November 2015 - 02:12 AM
Excellent hearing you have Pdx5. On the surface their price looks too cheap to be true.I owe a lot to Richard Russell, may he rest in peace.
In early 2000 he was promoting the idea to buy the PM miners as they traded at prices that looked like Perpetual Warrants.
Needless to say, I bought this view that seemed correct at the time and made a small killing.
http://www.chartsrus...php?ticker=^GOX
-tria
I am hearing PM miners are again trading very cheap!
Relative to the price of Gold that is, but is Gold cheap enough?
This is the big question where views differ.
In the world of 0 and 1: "austerity" is the right thing to SAY; "spent more, print more" is the right thing to DO.
"You miss 100% of the shots you don't take."
~ Wayne Gretzky
