| | | I
meant to take yet another Friday away from my writing, but as I am researching
for next week's annual prediction issue, there is so much material that begs to
be covered that I thought I would put out a short letter with 3 or 4 points as
a preface to my prognostications of next week. This
week we look at a very interesting, if not altogether encouraging, piece of
research on the length and severity of recessions that come during periods of
financial crisis, which can apply to not just the US but all countries that are
involved in the current crisis. But being forewarned is better than blindly
stumbling through, so we will take some time to peruse it. Then we (briefly)
look at the depth of the manufacturing numbers in the US, which leads us into
the recent bout of earnings downgrades and some thoughts as to where that might
suggest the market is going. That should be enough for this week. But first, and quickly, my annual
Strategic Investor Conference that is co-hosted by my partners Altegris
Investments will be April 2-4 this year in La Jolla. We will have information
out next week, but save the date in your calendar. Like last year, we expect it
to sell out. We have the best line-up of speakers ever: Martin Barnes, Dr.
Woody Brock, Dennis Gartman, Louis Gave, and George Friedman are already
committed, and we have a few who we expect to announce soon. And we had a large response to the
Richard Russell Tribute Dinner for that Saturday night, April 4. That, too,
looks like it could sell out. If you have already responded that you are
interested, we will contact you shortly. If you haven't and would like to be
part of a dinner honoring Richard Russell for a lifetime of service to
investors through writing his Dow Theory
Letters, then drop me a response and we will add you to the list of
invitees. And now to the letter.
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