Skip to comments.The Next Two To Three Days Are 'Extremely Critical' For The Stock Market — It May Crash 40%
Posted on 02/05/2014 9:40:05 AM PST by blam
TOM DEMARK: The Next Two To Three Days Are 'Extremely Critical' For The Stock Market It May Crash 40%
Feb. 5, 2014, 11:20 AM
Noted market-timer Tom DeMark did not sound optimistic about the prospects for stocks in an interview with CNBC this morning.
DeMark compared today's market to that preceding the Black Friday crash in 1929.
"When the market made its high on September 3, , there were 23 subsequent trading days where the Dow Jones Industrial Average had a short-term bottom," he said.
"23 days aligns with the low end on Monday. And subsequent to that, we had a four-day rally, and then the market unraveled went down 48%. We are currently at that inflection point. Like I said, so far, everything is aligned. We think the next two to three days are extremely critical."
DeMark explained why:
We get into the minutia as well as the long-term, and what it looks like to us if we were to, yeah, just for as an example if today were to be an up close, versus the prior day's close, and then tomorrow, we close down, and we follow with a lower opening the next day, and trade a little weaker, we're probably going to unravel quickly.
(Excerpt) Read more at businessinsider.com ...
[Runs around with hair on fire]
The Wall St. cheerleaders at CNBC are desperately trying to bail water from the sinking stock market. Only “buy-buy-buy” messages are welcome on air. By the way, this mindset is exactly why no one uttered a peep in 2008 before the crash.
Whaaduhyuhthink? We see this headline once a week, or once a month until Obama has finally killed of THE AMERICAN DREAM?
I sold on the first “up” day after the first “big” drop day.
BTFD or BTFATH Bitchez!!!! MOAR!!!! You can't lose!!!
They have had what, six major financial bankers commit suicide in the last week.
Yeah, I can believe it.
So stocks now paying 4.2% will be paying 7%?
I don’t think so. The thirst for yield and the need for income will prop up the market. Where are you going to go? Will you take a 2-year CD that pays .9%?
Are you referring to the dividends?
Sadly, it frequently happens that, when a stock tanks, the company's board then also pours salt in the wound by reducing the dividend, as well (which, of course, can result in a positive feedback loop, as the stock price then declines further).
I just sold because I know this market is going to crash sometime, and it looked like it was hinting at it last week.
There was no "Black Friday" crash in 1929. The two sharp downturns in late October were dubbed Black Thursday and Black Tuesday, and the market bottomed out on Black Wednesday, November 13. But on the day after Thanksgiving, which we call Black Friday today, the market had begun to rally and was on its way back up.
Sold what? All five shares of BofA? Or all 50,000 shares of GOOGLE?
I said "Just kidding".
That means, it was a joke. I'll let you figure it out from there.
Sponsoring FReepers are contributing
$10 Each time a New Monthly Donor signs up!
Get more bang for your FR buck!
Click Here To Sign Up Now!
I heard it was dozens! /s
-- Robert Louis Stevenson
“Noted market-timer” is not a very impressive credential.
I take it you liked roller coasters as a kid, right?
It was mostly energy focused MFs in my IRA. They have continued to drop since the day before I sold.
“They have had what, six major financial bankers commit suicide in the last week.”
I’m still here, but I guess I’m not considered “major”!
You know when you should get your ass out of the market?
When they’re vehemently saying there’s nothing to worry about.
Is this what is referred to as "professional investment advice?"
I did the same move in Aug 08.
Saved my donkey.
If you pull your money out of a balanced stock fund now you are guaranteed to lose money because cash won’t keep up with inflation.
With stocks at least you have a chance for some gains.
This isn’t 1929, a total crash of the market would make cash worthless too.
People would find out real quick that the money they thought they had in the bank, the one with the now locked door, was also invested in the markets.
"Lieutenant Colonel bankers" just doesn't have that same rhetorical impact. Don't even start me on "Admiral bankers".
I agree that the stock market is unusually “rigged” or “supported” by all the billions of newly-printed dineros being force-fed into it on a daily basis.
So it likely will go down at some point... (it always goes up and down, down and up...so THIS prediction is no great prescience).
Nobody, however, can predict a particular day for any stock market action.. Nobody.
On the plus side, that will go a long way towards addressing Income Inequality...
I’m not expecting great returns in the market over the next few years. A big dip would not surprise me at all.
But, these guys who predict dramatic doom on a definite date generally do it over and over, hoping to be right once and sell advisory subscriptions for years to come on the basis of that guess.
Ahhh. A technical analyst. Well. At least there’s a legitimate basis for this prediction...
Go long TVIX and HEMP...;-) HEMP was 4 cents a week ago.
I thought hemp was illegal?
We can all hold the dying dollar.
That should work. /s
The only fear we have to fear is fear.. Or sumthin’ .. A Fabian Socialist President said something close to it not so long ago.
Our enemies have come home to roost and use the panic card like some use the race card.
It becomes tiring after awhile.
You may now return to panic mode.
I sold a stock today which had been moving up even as everything else declined....and sold after some longterm serious gains.
So I’m hoping for a blood bath in days to come, so I can jump back in with that cash!!!!
I keep buying back into the same fund while things are stable, at $X per month, but have baled on it a couple of times over the years.
If I jumped out of my window; I would fall about 2 inches.
whatever. I am ready; whatever happens, happens.
the die is cast.
we have chosen to ignore our Creator.
we have murdered 55,000,000 unborn children.
we have made sodomy a celebration.
we have made our bed, we must lie in the same.
God have mercy on His remnant.
Yeah. I threatened to move my entire portfolio into gold and my broker offered to buy me a magnifying glass so I could see it.
Reminds me of Jean Dixon, the sage predictor of general events some twenty to thirty years ago.
If she hit one, she looked like a real seer. Nobody mentioned her other 5,000 blanket predictions.
She did hit enough to be of interest. Never paid much attention.