DOW Crashes 64%-Robert Prechter Explains

 

DOW Crashes 64%-Robert Prechter explains where to “park” your money.

Greenspan Defends Himself & Promts His Book at the Same Time

JANUARY 28, 2008: The Nasdaq gained 1% but volume was light as traders await Wednesday’s Fed meeting where they are widely expected to cut rates by 1/2%. The Nasdaq has been rallying lately on falling volume-a sign that this unconfirmed rally could fail. Former leaders like Google, Amazon.com, and Apple are still below their 200-day moving averages-a major sign of weakness. Potash, Monsanto, and Deere have been holding up better than most stocks but are rallying on decreasing or ‘wedging’ volume. Laggard groups like homebuilders, financials, and retailers were strong today giving this latest rally has the feel of ’short covering. Counter-trend rallies during corrections are by no means a signal to jump back in the markets. Bear market rallies can be sharp to the upside and come back down even faster. It’s best to wait for a ‘follow-through’ day before committing money to the long side of stocks. More info at www.goldenticker.com

The Inevitable Collapse of the US Dollar – A “must see” video.

Peter Schiff has been a voice of reason for many years and now many of his dire predictions are materializing.

Cramer exposes the corruption on Wall St. & the banking sector.

http://www.cnbc.com/id/22706231 A MUST SEE VIDEO

Why isn’t the Securities and Exchange Commission getting more involved in the whole banking sector writedown situation? Especially since the numbers are likely to get worse, not better? That’s what Jim Cramer, CNBC’s resident stock guru, wants to know.

“It’s all fiction!” he declared during a forceful exchange (see it in full in the accompanying video) on CNBC’s “Squawk Box.”

“How can we have these levels of fiction in financials after Sarbanes-Oxley? How do people get away with this? How do they live with themselves?”

Cramer made his comments while reviewing results from Merrill. But his real consternation surrounded the insurers who cover banking investments. Some of those insurers haven’t come clean about their liabilities, Cramer speculated. Eventually they will, and then the “fiction” will disappear, he said.

The banking sector and its related industries are all too chummy, Cramer accused. That led the numbers related to mortgage investments — investments that are currently souring — to break from reality.

“I think the financial guys all belong to the same club and they got to protect each other,” he said.

Worse, those executives behind the current credit crunch are unlikely to get any punishment for their mistakes and disingenuousness about their numbers, Cramer opined.

“I’m fed up with it. The American people should be fed up with it. And the SEC should be fed up with it,” Cramer said.