A new president will soon be sworn into office, markets are recovering and there is an emerging optimism that the worst may be over. I\'d be so happy if that were true. unfortunately, tells me the worst is just about to begin. Within less than two months (it could be as soon as a few weeks or even less), the S&P should embark on one of its most violent, scary declines in market history. Wave structure currently suggests a 50% decline (from current levels) is possible in 1-2 months! The markets are not prepared for this; the world is not prepared for this, but we will have to deal with it. The only way this will not occur is if the cash S&P is able to exceed 1006 before breaking last year\'s low. If 1006 is exceeded, then the future is not clear and I will have no opinion for a while. As long as 1006 is not exceeded, the outlook is dire.
As most of you know, I turned officially bearish on the U.S. stock market in mid January 2008. From that point forward, the S&P moved almost exactly as expected all year. Unlike the last 12 months, the next 12 months will be the most treacherous we\'ve ever seen. The only good news I have to report is that, after the big drop, the bear market will be over; but, by then, no one will believe me and the majority of the public will no longer be interested in the stock market. Mutual fund redemptions will reach historic levels - within 1-2 years, financial business and radio shows will start to go off the air and the public\'s disgust with Wall Street will be so high that a pandemic of law suits will breakout.
I do not like being the purveyor of bad news, but wave structure tells me 2008 was just the warm-up for what\'s coming. Please do everything you can to prepare for this major, financial storm.
Transmission Time:
Los Angeles: 6-Jan-2009 08:56 New York: 6-Jan-2009 11:56 London: 6-Jan-2009 16:56
Madrid: 6-Jan-2009 17:56 Mumbai: 6-Jan-2009 22:26 Sydney: 7-Jan-2009 03:56
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这个家伙很懒,什么也没留下......