SPX: Very Long-term trend - The very-long-term cycles are down and, if they make their lows when expected, there will be another steep and prolonged decline into 2014.
SPX: Intermediate trend - After last week, it is likely that the downtrend continues. It has a tentative projection to 1065.
Minute by minute, it’s becoming more clear that a meltdown in Europe is the most likely outcome, and investors around the world need to prepare for what I call Lehman 2.0.
Well, I went to cash over the summer in my biggest account, thank goodness, and a smaller account entirely in gold. The global politician class sure knows how to frighten investors. Every time Bernanke Obama opens his yap, stocks fall and gold goes up. The euro is disintegrating - its like a family with 10 teenagers, one checking account, everyone writing checks, no one making deposits.