Ignoring the lessons of 1929 The similarities of the lead-up to the great market crash to today's economic environment are obvious. Don't say you weren't warned. By Bill Fleckenstein http://articles.moneycentral.msn.com/Investing/ContrarianChronicles/IgnoringTheLessonsOf1929.aspx
Don Hays sez we go to 1800 on the S&P this year. Who you gonna believe, Fleck, who's right once per millennium? Or Hays, who's right twice every 10-20 years? Ah hell...just trade 'em!
lol I stopped reading Fleck in summer of 2003, when every day was just more evidence of froth, etc. Wonder how that's treated him?
I predicted the NASDAQ crash at 4900 levels all the way to 1800 and lower...........this time around, it seems S&P500 might correct all the way to 1100 or so easily. This translates into 1500 for NASDAQ. There is also a lot of truth in the yearly performance of the major indicies.........something to do with the presidential cycle. This means years ending with 7 can be big on corrections. Usually years ending with 5 are very good for the bulls.
i heard 1800 as well this morning, said the markets will keep running into 2009. :eek: :eek: :eek: :eek: :eek:
Excellent Commentary........ This is definitely a one sided ...hero type...bet.... Garzarelli played the same game ...and won her bet....regarding the 87 crash.....and this bet was very rewarding for her... Nothing to lose...and everything to gain..... Money always follows performance.........
How does Fleck make a living? Writing for MSN? Do people actually pay him to manage money? I can't imagine it.
eventually the bears do get it right. im sure there will be a time when we see a 15-20% drop in the markets over the course of a year, who knows how far that is away.