He’s definitely wrong a lot on the short term. And since I only play the short term, I don’t follow him. He could be right on the Dow 38,000-42,000 call… but only if hyper-inflation kicks in.
If the dollar is replaced with the Amero, then that call will be wrong. If the dollar isn’t replaced, then the value of it will be 1/10th of what it is today… in as little as 5 years from now.
As for gold, I still have a FP of it at 935.60… which it should hit that level when the stock market crashes and all the big institutions have to liquidate their gold to cover the margin calls they’ll be getting.
When will that happen? I don’t know? But the market looks topped now, and if it does start down next week in a bunch of wave 3’s… then it will happen soon then we might think.
For those of you with guts, the smaller time frame charts (the 5, 10, 15, 30, and 60 minute) will be (most are already) overbought by the end of the day.
I’m not going to call a Black Monday, but some selling should happen as all those charts together being overbought should force the market down on Monday. Some short positions might be wise (don’t bet the farm on it of course).
According to ZeroHedge, JPM has been manipulating the price of silver for quite some time now. They have been shorting it hard, keeping the price down. I suspect they also borrowed shares of stocks that don’t exist… just like Goldman did when they put Lehman out of business.
If a short squeeze happens in silver, I’d bet you that JPM will end up going bankrupt from it.
If this market rallies into the close, and prints a 1160-1170 spx level, then Monday could be a Black Swan Day. Just release some bad news on JPM over the weekend and then overbought charts will have their reason to sell off hard.
He’s definitely wrong a lot on the short term. And since I only play the short term, I don’t follow him. He could be right on the Dow 38,000-42,000 call… but only if hyper-inflation kicks in.
If the dollar is replaced with the Amero, then that call will be wrong. If the dollar isn’t replaced, then the value of it will be 1/10th of what it is today… in as little as 5 years from now.
As for gold, I still have a FP of it at 935.60… which it should hit that level when the stock market crashes and all the big institutions have to liquidate their gold to cover the margin calls they’ll be getting.
When will that happen? I don’t know? But the market looks topped now, and if it does start down next week in a bunch of wave 3’s… then it will happen soon then we might think.
Thanks Red, and check out Mr. Wrongs free post! He drives me crazy now!
http://www.mahendraprophecy.com/latest-news.php?id=472
For those of you with guts, the smaller time frame charts (the 5, 10, 15, 30, and 60 minute) will be (most are already) overbought by the end of the day.
I’m not going to call a Black Monday, but some selling should happen as all those charts together being overbought should force the market down on Monday. Some short positions might be wise (don’t bet the farm on it of course).
I agree Mike…
Next week should be a big down week, as this bull is about done.
Yes Jigsaw…
According to ZeroHedge, JPM has been manipulating the price of silver for quite some time now. They have been shorting it hard, keeping the price down. I suspect they also borrowed shares of stocks that don’t exist… just like Goldman did when they put Lehman out of business.
If a short squeeze happens in silver, I’d bet you that JPM will end up going bankrupt from it.
bull move exhausted, vix weekly chart ready for big break-out next week, time to scale in short
Leo, isn’t there some issue with JPM selling too much silver paper? thought I read that or saw it in one of your vids
A Beautiful breakout
If this market rallies into the close, and prints a 1160-1170 spx level, then Monday could be a Black Swan Day. Just release some bad news on JPM over the weekend and then overbought charts will have their reason to sell off hard.
Yup! Is this the “Black swan” for JPM that will let TPTB achieve a coup on one of their own?