November 1929 - Some reassuring utterance by the President of the United States would do much to restore the confidence of the public. William Randolph Hurst
November 1929 - Any lack of confidence in the economic future of the basic strength of business in the United States is foolish. President Hoover
June 1930 - The worst is over without a doubt. James J. Davis, Secretary of Labor
September 12, 1930 - “We have hit bottom and are on the upswing.” – James J. Davis, Secretary of Labor.
October 1930 - Looking to the future I see in the further acceleration of science continuous jobs for our workers, Science will cure unemployment. Charles M. Schwab
October 1930 - I see now reason why 1931 should not be an extremely good year. Alfred P Sloan, Jr. General Motors Corporation
December 1930 - Economic depression cannot be cured by legislative action or executive pronouncement. President Hoover
July 21, 1932 - “I believe July 8, 1932 was the end of the great bear market.” – Dow Theorist, Robert Rhea.
"It is important to understand that Wall Street and the politicians are the ones that created the economic mess we are in. The politicians did not see this coming, they do not understand this problem and they are not going to be able to fix it. From my seat, it is actually comical, but sad, to watch these guys in action. I honestly believe they are clueless. For the record, I warned about the extended 4-year cycle advance all throughout 2005, 2006 and 2007. It was then at the 2007 New Orleans Investor Conference that I first revealed the possibility of a 1930 to 1932 style setup occurring following that extended 4-year cycle advance. Don't buy the current hype."
Tim Wood - Cyclesman.com
4 comments:
Economics is my current ed. self - study-so--based on this excellent post- are we to sell stocks now-or will there be an up-turn? I know-we should have gotten out in 2006 - right?
C-CS
The above is a legitimate question...
C-CS
CS - I believe and many technical analysis people do - that we will see the DOW at 6000. There is buying support at 6200-6400 but not that much. 6000 like 7000 and 8000 are psychological levels and the Dow would hang around those levels within a couple of hundred points.
After the 6000 area, there is little support until 4000 - and I pray we don't go there BUT ...
So, if you can, investigate ETFs - they both short and long the market. Choose an ETF that shorts the S&P 500. If inclined, take a small risk by buying an ETF at this level and wait. If the Dow goes back above 7200 then 7500, close out your short. Your risking a few hundred points but could at least protect some of your investment.
This is my opinion ONLY.
Will get on it this week-thank you WC-
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