Just saw him on CNBC but the sound was turned down. Can anyone summarize what he said, and what levels he is looking at? TIA
He is 2000% ( or was it 200%) short and he is expecting a "catastrophic" decline. Don't remember him mentioning any levels but then I wasn't paying that much attention to tell you the truth.
How ironic that he gets interviewed by Ron Insana and the market immediately gets hit. Guess he knows something about North Korea. But the market just bounced off the 61.8% retracement of the S&P rally yesterday at 1145. :eek:
He was really negative. Jump out the window type negative. Mentioned a 1930 's type decline. Talked about how there could be a rally in the middle of this potentially big down move. His recent track I hear is good. The stars must be aligned.
He's been right sometimes and wrong sometimes -- it's hard for me, though, to get too excited about using astrological stuff in market analysis.
arch and his good friend pesavento and the rest of the cult are extremely bearish since about august 2003. pesavento once said and i and cutting and pasting here: "Someone asked me what it would take to make me turn bullish on stocks as this level. I replied, "a lobotomy" and I was not trying to be funny!" this was at oct 17, 2003. very shortly after the markets were up a record 9 weeks in a row. now don't get me wrong, i am currently also predicting a major decline soon, due to the simple monthly price structure the markets are showing. however, these guys are simply unreliable. what they do is simple - they shout bear almost ALL THE TIME, and naturally, they are right from time to time.
For one thing, he has made some good calls, secondly. the more you laugh the more I take him seriously.
For one thing, he has made some good calls, secondly. the more you laugh the more I take him seriously.