Friday, May 13, 2011

Has a Major Top Been Reached?

I dont usually brag but maybe it is time I should. I called the crash of 2008, just days before it began (click images to sharpen):

I also called the bottom in 2009, again just days before the actual bottom was put in:

Including a very specific call on General Electric (GE):

Check out this chart of GE, which shows just how accurate and prescient this call was:

I have never before or since recommended GE, and I probably will not again for a long time, if ever. I post this stuff not to gloat, but rather to show that I have a pretty good sense about these things. All of the texts I am quoting can be found using google. Here is an example. These calls are real, though they are haphazardly strewn about the web.

I have been waiting for confirmation before posting, but truth is I think the top was in two weeks ago. Now I am not saying I am always right, because "The Bernank" can rally the market any time he wishes, via the printing press. This actually happened last August when the markets looked like they were ready to collapse. Being somewhat wise to his antics, I made the following post, inset onto a chart of HL(Hecla Mining Company, a silver miner):

Notice that the market rallied immediately following that post. I was wrong then, because I was calling for a major move down. But I made the perfect hedge call for silver to rally hard if Bernanke did something stupid to try to prevent a necessary correction. Well, Bernanke did do something stupid, and we call it QE2. Hecla Mining Company's Dec $6 call options went on to be worth 6 dollars, a nearly 3000% gain. All based on the possibility that Bernanke would print. Well, print he did. And now, he needs to do it again. The market is starting to demand it. A correction is even more necessary now than it was last august. But printing more money is too dangerous an option for this political season. There is a political price to be paid for printing money, because they are basically stealing money from the poor and the retired and giving it to the rich every time they print. I have explained how that works ad infinum and ad nauseum in previous posts. Suffice it to say I see no way for them to stop the correction at this time. Hence the top call here.

Note: I am not a registered investment advisor, and those people can all KMA, because they're a bunch of blathering idiots.


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