18 replies to this topic

[Russ]

As indicated in post below Joe Granville was interviewed on www.cknw.com today. He thinks we are in a very dangerous parabolic stage of markets world wide and that it is going to end badly. Governments printing huge amounts of money world wide is going to destroy the middle class according to Granville. In 1929 half of stocks were breaking below their january lows before the crash. Granville says the same trend is going on now. It will be the "Greatest Financial Train Wreck in History" he says.

[JAP]

He thinks we are in a very dangerous parabolic stage of markets world wide and that it is going to end badly. Governments printing huge amounts of money world wide is going to destroy the middle class according to Granville.

I definitely see that happening, especially with all the non-skilled Mexicans that are in, and will be coming into this country. Bush is very intent on destroying this country.

In 20-30 years, there will be only poor and rich people... I indend on being the latter.

[ChickenLittle]

I don't see it here. What am I missing???
http://www.imageuplo...p01&i=82885.png

[skott]

doesn't the above indicator give you the new lows for the day.........not necessarily telling which stocks are currently below their Jan lows. i.e, a stock could already be below it's Jan low but it is not making a new low now.

[Mtrader]

Bubble just started. 300 Billion Surplus from China == 3 trillion liquidity increase. That is real. Don't listen to that crap and short the market.

[Sentient Being]

Russ, Thanks for passing that along. It's always interesting to hear these predictions of apocalypse. Of course, I hope he's dead wrong!

[ChickenLittle]

doesn't the above indicator give you the new lows for the day.........not necessarily telling which stocks are currently below their Jan lows. i.e, a stock could already be below it's Jan low but it is not making a new low now.

You're right, I was trying to give a simple response. But I didn't find a diverse market average that is below its March or January lows. There are some sectors that meet Granville guidelines but that is always true in every bull market. Something (or sector) is always going against the trend.

I'm not a raging bull but I thought Granville's case was weak.

[selecto]

You have to love Joe; he's been here for it all, and is a delightfully frank crumedgon. OBV is his invention, and if tuned properly it is one of the best indicators. It is quite valuable in BB alchemy. I believe DW found some of his inspiration for the CLX from Joe's OBV, with whom DW was buddy-pals back in the day. Joe as been mostly a bear in his old age (81) and mostly wrong, spectacularly so in calling for Dow 7400 in 2005. I think his letter is way down there in the Hulbert rankings.

Edited by selecto, 26 May 2007 - 04:33 PM.

[PorkLoin]

A good proxy for US stocks in general. There is divergence, yes, and maybe that good ol' MACD is rolling over. The daily chart definitely has divergences. You can see the uptrend curving toward being flatter, as it's done many times before.

But I think it's premature to say "The End is Near."


Doug

[ChickenLittle]

You have to love Joe; he's been here for it all, and is a delightfully frank crumedgon. OBV is his invention, and if tuned properly it is one of the best indicators. It is quite valuable in BB alchemy.

I believe DW found some of his inspiration for the CLX from Joe's OBV, with whom DW was buddy-pals back in the day. Joe as been mostly a bear in his old age (81) and mostly wrong, spectacularly so in calling for Dow 7400 in 2005. I think his letter is way down there in the Hulbert rankings.

Many years ago Granville was great fun to hear speak. I saw him once during the 1980's. One of his great sayings was "if its obvious, its obviously wrong". Tried to tell that one to a lot of friends and they couldn't get it . . . And that's why the crowd is always going in the same direction.