weekly newsletter looks a lot like a ROLL OF TOILET PAPER, except you cannot even use it to wipe your arse!
I think the indicators point to more sideways action. Strong economic numbers (low inventories combined with strong consumer spending = turning the corner on job creation) plus very good earnings out of the majority of companies, offset by low VIX (excess complacency) and a few high profile companies who have disappointed and hogged the news. What is interesting is that a lot of hedge funds were long Oct Puts that just expired. They did not roll their insurance into Nov., so the market is much more vulnerable to overreaction on the downside now and going foward into the end of the year
Why is it that people like to try to explain "WHY" the market sold off (after-the-fact-analysis) instead of BEFORE the fact analysis i.e. sharing with thier clients........GET OUT! SELL NOW!!????
Well, SOME people HAVE heard of him ... and he has a decent track record. I continue to be amused at all the bulls who think the market is going to continue to head up. And at $36K/year he doesn't need to be a "charlatan self-promoter".
Actually, I did warn about the dangers to the downside related to expiring Oct puts last week on Bloomberg TV (Oct 17th)
So, how far is the DOW going to drop from here? Bill Gross thinks sub 5000ish. I tend to agree with him. We are headed much, much, lower very soon. ya think?? M