Posted By: Ambrose Evans-Pritchard at Jan 15, 2009
The Telegraph (UK)
Oh no!
Albert Edwards at Societe Generale has issued another terror alert:
Sell everything. Hide in a bunker with plenty of whisky. The S&P 500 index of US shares is about to crash through its half-century support line to 500.
"Technicals say it is time to bail out. Cut equity expose and prepare for rout. US depression looking likely. While China's 2009 implosion could get ugly."
[snip]
I didn't want to post that in Bloggers & Personal. Good technique.
AEP throws this out for comment in his blog to test the waters. The comments are quite enlightening and cerebral.
yitbos
FYI Freepers, regarding market technicals this John B. Taylor paper seems to have defined the timeline by analyzing LIBOR activity. The Abstract: This paper is an empirical investigation of the role of government actions and interventions in the financial crisis that flared up in August 2007. It integrates and summarizes several ongoing empirical research projects with the aim of learning from past policy and thereby improving future policy. The evidence is presented in a series of charts which are backed up by statistical analysis in these research projects.
http://www.stanford.edu/~johntayl/FCPR.pdf