FWIW, I read Richard Russell's "Dow Theory Letter" for many years as a public library reader, starting about 1990. It's a very clearly written & interesting newsletter, and Mr. Russell was talking along the same general lines in 1990 that he is now, no change in his editorial outlook whatsoever for the past twenty years. In that sense, it's sort of like a broken record repeating itself with very little fluctuation over two decades.His general theme then in 1990, was ,as it is now, to was stay away from stocks, and buy gold

Years ago I used to belong to a AAII ( stock focused) users group that met monthly, and one of our group members was a professional stock & bond trader employed by a large bank here in Chicago. During one particular meeting, someone brought up the "Dow Theory Letter" as a topic for discussion , and this trader's only comment pertaining to the DTL was that he too read the letter, but he cautioned that he completely disregarded everything written in it except for the regularly featured subpart known as the PTI or "primary trend index" He said that if you strictly followed the PTI, only, which is often at odds with the editorial content of the letter, and you used the PTI as a general signal for when to get in and out of the market, over time you would do very well , but he completely dismissed most everything else. 'Just something to consider is all TYhe trader's comments were made about ten years ago, and I don't know if his opinion might have changed during the interim