Quote from GrandSupercycle:
EURUSD downtrend and USD uptrend continues.
Key equity index weekly charts give bearish signals as the choppy correction gains momentum. S&P500 target is 1222 but that wonât hold. Unfortunately the March 2009 lows will be breached.
Memories of what you posted on August 15th, 2010 on your blog :
" DOW and SP500 weekly charts Fri Aug 13 inclusive.
The indexes continue to be pulled in opposing directions by the
buyers and sellers â as exemplified by choppy price action and
megaphone wedges. Daily charts are bearish to neutral.
Weekly charts are bearish to neutral. Monthly charts are bearish
to neutral.
As mentioned earlier, weekly and monthly charts have been topping
and basically going sideways since early May 2010. This topping
process will cease and increased selling pressure and more bearish
consensus should result in a more pronounced downtrend
developing.
EURUSD daily chart is bearish. Weekly chart is neutral. Monthly
chart is bearish to neutral. The opposite applies for the Dollar
Index so further USD upside is still expected.
CRUDE OIL daily chart is neutral to bearish. Weekly chart is
neutral. Monthly chart is neutral to bearish.
COPPER daily chart is bearish to neutral. Weekly chart is neutral.
Monthly chart is neutral. Copper long term charts have not been
bullish for some time â warning whatâs ahead for the global
economy.
Unfortunately the March 2009 lows will be breached as long term
trends remain bearish. "
Conclusion :
You predicted an extremely bearish move in August 2010 which was followed by a 30%+ bull market. At no point during that 30% mistake did you advocate going long the S&P 500 or the Dow.
Bearish calls on CRUDE OIL, COPPER, EURUSD were all terribly wrong for no less then 9 months.
So here we are again, still well above the real support level of 1250 on the S&P 500 and key commodity prices dropping but still HIGHER then where you called shorts on them. So now you make the same PLUNGE as you posted in August 2010 and again in March 2011. Predicting that 1222 will be crushed and the March 2009 lows will be broken.
Guess what, this is ridiculous, and by this fall it will be VERY CLEAR that you are an idiot. You will AGAIN pretend the calls you made in August 2010 never happened, that they were merely guidance to persuade traders to hold a 30% move on the S&P 500 against their shorts on the hope of eventually making their money back a year later ( still seems doubtful ) or making 30% profit, but only if the S&P 500 crashes below 2009 lows which is unprecedented in the history of stock markets.
You are possibly the WORST analyst I have ever encountered in my life. But I am happy to present clearly why this is the case, using your ACTUAL BLOG ENTRIES, and sticking strictly to OBJECTIVE COMMODITY AND INDEX values. And yes, I expect to post some bullshit emotional reply meant to distract people from the underlying topic at hand.
No sale buddy. If we don't break 1222 on the S&P 500 by end of year ( a fairly modest proposal given your overall premise ), you should take manditory retirement from this area. Can we get your commitment to that, buddy, or do you have ZERO accountability and credibility ?
If I have time, I may look into your calls concerning COPPER, OIL, and the EUR/USD versus actual price movement. It should be enlightening.
