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%
Matthew Boesler
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, [1929], 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.
(snip)
(Excerpt) Read more at businessinsider.com ...
“Noted market-timer” is not a very impressive credential.
TC
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.
Useless post.
“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.
Exactly!
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
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