The buy recommendation drew attention because in a separate King World News report last week Russell said he didn’t trust the rally as the Dow reached all-time highs. [Dow Industrials, Transports ETFs Hit Records]
“My explanation of this unprecedented situation is that the advance to new highs was a direct result of never-before-seen manipulation by the Federal Reserve,” he said in the earlier report. “But I doubt if the Fed will be able to engineer a coming new era of prosperity in America. Thus, it will be an example of where the stock market will not be predicting the nation’s economic future.”
SPDR Dow Jones Industrial Average ETF
