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"The Dow, which now stands at 9,686.48, is likely to fall well below 1,000 over perhaps five or six years as a grand market cycle comes to an end, [Robert Prechter] said. That unraveling, combined with a depression and deflation, will make anyone holding cash 'extremely grateful for their prudence.'
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"He has far less day-to-day influence now, after years spent developing a theory he calls 'socionomics,' which holds 'social moods' as the cause not only of market cycles but also of economic and political events. A grand cycle is ending, he says, and the time for reckoning is near."
"The Dow, which now stands at 9,686.48, is likely to fall well below 1,000 over perhaps five or six years as a grand market cycle comes to an end, [Robert Prechter] said. That unraveling, combined with a depression and deflation, will make anyone holding cash 'extremely grateful for their prudence.'
***
"He has far less day-to-day influence now, after years spent developing a theory he calls 'socionomics,' which holds 'social moods' as the cause not only of market cycles but also of economic and political events. A grand cycle is ending, he says, and the time for reckoning is near."
It is CERTAINLY going to take a beating, particularly when Obama's tax increases go into effect and precipitate a very dismal 2011. The market will take a tremendous beating, as will the US economy.
I am a physician. But I have become wealthy not through medicine, but shrewd investing. I told all you guys to sell last winter- yet the Obama zombies said that everything was okay. It is not okay. It is going to get a hell of alot worse.
I VERY MUCH DOUBT that the market will drop to 1,000. There have been alot of these people that note specific numbers and they are always wrong. I have a very good sense of trends- if the market goes to 1,000, we will all be fighting for food in the streets and world anarchy will have taken place. I doubt that very much. I have avoided all of the the three big crashes in the last 30 years by this simple rule- sell when you are feeling very good about your investments and buy when you are feeling very bad. Brokers do not know crap (if they did, they would not be brokers). I bought Best Buy and Apple when they were in the dumps and increased my money 40X. Why? Idiots said they were dead.
Be patient- Obama is dismantling the US economy and is creating ANOTHER HUGE buying opportunity (That is his only gift to us- incompetence). He will tank the markets again and allow us to seek huge profits from his idiocy. The average guy will suffer, but investors will do well. Be patient and keep cash ready. Obama has made me alot of money already, and he is about to make me alot more. He is ruining the nation, but he is making alot of people rich in the process.
Obama has inflicted very severe wounds to the US, but it is not too late to recover. He will be out of office in 2012 and austerity measures will be intstitued which will set the US on proper course again. However, it will be a very tough decade after Obama and all of us better get set for some tough times.
It is CERTAINLY going to take a beating, particularly when Obama's tax increases go into effect and precipitate a very dismal 2011. The market will take a tremendous beating, as will the US economy.
I am a physician. But I have become wealthy not through medicine, but shrewd investing. I told all you guys to sell last winter- yet the Obama zombies said that everything was okay. It is not okay. It is going to get a hell of alot worse.
I VERY MUCH DOUBT that the market will drop to 1,000. There have been alot of these people that note specific numbers and they are always wrong. I have a very good sense of trends- if the market goes to 1,000, we will all be fighting for food in the streets and world anarchy will have taken place. I doubt that very much. I have avoided all of the the three big crashes in the last 30 years by this simple rule- sell when you are feeling very good about your investments and buy when you are feeling very bad. Brokers do not know crap (if they did, they would not be brokers). I bought Best Buy and Apple when they were in the dumps and increased my money 40X. Why? Idiots said they were dead.
Be patient- Obama is dismantling the US economy and is creating ANOTHER HUGE buying opportunity (That is his only gift to us- incompetence). He will tank the markets again and allow us to seek huge profits from his idiocy. The average guy will suffer, but investors will do well. Be patient and keep cash ready. Obama has made me alot of money already, and he is about to make me alot more. He is ruining the nation, but he is making alot of people rich in the process.
Obama has inflicted very severe wounds to the US, but it is not too late to recover. He will be out of office in 2012 and austerity measures will be intstitued which will set the US on proper course again. However, it will be a very tough decade after Obama and all of us better get set for some tough times.
Well, we are on the same wave length. I am retired but an attorney in my prior life(don't hold that against me, we are not all bad guys), corporate. Overseas for 20 years.
I did the same with the market, I am probably older than you, but got lucky and used common sense, bought apple in the mid 1980's for $14, sold a few weeks ago, nice return, also got in on the Microsoft initial offering in 1986. Sold it several years ago.
Lots of other equivalents along the way, but nothing as dramatic as those two.
I feel we are on a collision course economically. Next year will be horrible. I am moving into cash and am 90% there. The remaining 10% is in treasuries with a pool margin of 7 1/8%, have had them for years. I think the market will see the 5000 or 6000 range easily. The only reason it will not go much lower is due to the incredible amounts of cash large corps now have on hand. That also is an indicator they are planning for hard times.
2012 should be an good turnaround year for markets when the signs are clear that Obama is a one termer.
Makes me cringe when I see some of the advice in the Business Investing forum here and hope people do not take too much advice from an online guru.
Good luck and hold on for the bumpy ride ahead.
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