Markets: Down

[Annie]

What do you think of this?

He Called the 2007 Top and Recent Rally, Now Charles Nenner Sees Trouble Ahead for Stocks: Tech Ticker, Yahoo! Finance

...Well, there must be some method to the madness because the former market-timing consultant at Goldman Sachs has made some stellar calls, including:

Forecasting a Dow peak of 14,500 in the summer of 2006.
Calling the market top in October 2007.

Forecasting in late 2007 a “deflation scare” would occur in 2008, something he says isn’t over yet.

In February 2009, predicted a major rally would start “in a few weeks” and could take the S&P as high as 1000.

So what is Nenner saying now?

After some short-term gains to coincide with month-end window dressing, Nenner predicts the stock market will turn south, possibly sharply.

“I’m still worried we could test the lows,” he says, suggesting a break of S&P 850 would make that grim outcome a near certainty.

Check the accompanying video for more on Nenner’s analysis, including some insights on how he uses the past to predict the future.

 

[editec]

Who can predict what the market will do?

Only the insiders who manipulate it.

 

[Terral]

Hi Editec:

Who can predict what the market will do?

Only the insiders who manipulate it.

All I can say is that eventually the NWO Obama Kool-aid is going to wear off and Dow 5000 will look really good . . .

My Hyperinflation/Derivatives Bubble-Burst Warning post is here.

GL,

Terral

 

[Mad Scientist]

All I can say is that eventually the NWO Obama Kool-aid is going to wear off and Dow 5000 will look really good . . .

My friend and I were talking about the latest "gyrations" of the market and came to the same conclusions:
1. Dead Cat Bounce
2. Day traders buying and selling during the day causing the dow to go up a down wildly. It isn't a reliable indicator of the true health of the economy.
3. Although job loss will slow, job creation will not materialize in great enough numbers in the foreseable future.
4. Dow returns to the 5000-6000 level.
5. Buy precious metals as a hedge against inflation.

 

[wimpy77]

dont think the dow will go back down to the march lows but i think its a correction is happening and its gonna be bigger than the 10% some "experts" said would happen. and i agree with ed if you spend your day looking at the gyrations of the market and get all in a tizzy you need some prozac. but today's markets moving down was apparently because the world bank downgraded their projections for the year. a 2.9% contraction this year. another negative gdp number in the 2nd quarter, but growth starting by the end of the year. its just gonna be slow.

 

[Toro]

After getting a bit short last week, I got aggressively short today around noon. The market is rolling over.

 

[wimpy77]

looks like alot of people got short today. do you think some of it is the fed's announcement on wednesday toro or do you think that the party is over and we'll go back to 6500?