To quote Richard Russell, once again
"Nearly everybody I read or talk to is convinced that we're in a new bull market -- a primary bull market which they claim started at the March 2009 low.
If the March 2009 was a bear market low, it was unlike any bear market low that I have ever seen.
Where were the "great values" that always present themselves at a bear market bottom?
Where were the juicy Dow dividend yields that we invariably see at true bear market bottoms.
For instance, back in 1981 the Dow dividend yield was 6.42%.
At the bear market low of 1974 the Dow dividend yield was 6.12%.
In 1940 the Dow dividend was 6.84%.
In the dark year 1931, the Dow dividend yield was 10.78%
Where were the fabulous values in March 2009?
The answer, March 2009 was not a true bear market bottom.
The next great bear market low lies ahead!"
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