I'm not sure which forum to post this as it really is first a trading question and then a news update. First, anyone here study him? Has anyone successfully implemented his ideas? I've spent several hours going over various papers he wrote. Pretty interesting stuff. Couple that with the strange legal issues he has had and I must say that something very strange is going on here. In any event, the news item is this. His bid to be heard by the US Supreme Court has failed. Personally, I think that criminal or not, what was/is being done to him is in fact criminal. http://www.reuters.com/article/companyNewsAndPR/idUSN2949714620071029 ****SNIP****** US court rejects ex-trader's 7-year contempt case Mon Oct 29, 2007 10:32am EDT By James Vicini WASHINGTON, Oct 29 (Reuters) - The U.S. Supreme Court rejected on Monday an appeal by former trader and financial adviser Martin Armstrong, who had been jailed for more than seven years for contempt of court. "This case involves fundamental questions about the power of a federal district court to impose a term of indefinite incarceration as a sanction for civil contempt," his attorneys said in the appeal, asking the Supreme Court to hear the case. "Armstrong's seven-year detention is virtually unprecedented in American history," they said, arguing his confinement violated the Recalcitrant Witness Statute, the Non-Detention Act and his constitutional due process rights. ..... At sentencing in April, he was given five years in prison, and the judge said Armstrong would not get credit for the time he already had spent in jail. *******SNIP*************
He predicted Feb 27 correction, right to the day. Nonethless we are supposed to be in a downtrend since then, yet the market rallied a bit. Looks like its a -short term- selffullfilling prophecy to me. Keep in mind that his model forecasts only "economic confidence" and should not be used to forecast market prices, at least not directly. This makes sense, since Feb 27 economic confidence has dropped, as perceived to the public; even if the market rallied. Remember that stocks climb a wall of worry.
In some other article (maybe some one else will find a link), Armstrong said that if 2007 will not provide a top, than we will enter era of hyper inflation for the next 4 years.
It sounds like some very powerful person is after him and wants to make sure he spends the rest of his life behind bars. Obviously, the Supreme Court decision is unconstitutional. Ivan Boesky stole $200 million in a proven case, returned back only half of it and stayed behind bars for only 2 years. Something else is going on with this guy. Ron
He said he knows too much of market manipulation, true or not people will believe him. He could also move the market dramatically just by speaking, at least short-term; again people will believe him.
according to Armstrong next cycle bottom is 2008.225 which is last week of March. http://www.contrahour.com/contrahour/2006/06/martin_armstron.html
After getting to this part I knew that this is BS of a theory: "This is the first time I will reveal something that I discovered and kept secret for the last 13 years. The total number of days within an 8.6-year business cycle was 3141. In reality, the 8.6-year cycle was equal to p (Pi) * 1000. Suddenly, there was clearly more at work than mere coincidence."