Wow! And I thought that I was a gloom and doom prophet. These video guys are light years ahead of me. Until now, I was only worried about running out of oil, global warming (or the onset of a new ice age, I haven’t yet decided which), and catching the dreaded swine flu without Obama’s free government healthcare.

But seriously, few of your readers over there are probably aware of it, but here in the USA, we all tend to believe people who speak with British or Australian accents (Canadians, not so much). This is evidenced by the fact that we are subject to an endless parade of them on cable TV, advertising a continuous flow of wonderous new labor saving inventions, everything from new high technology drip-proof mops, to plastic food processors. A restaurant chain is named ‘Outback Steakhouse’ even though I have learned, that it has no known connection with our fellow Pacific Rim neighbors down under. And they serve a lot more beef than mutton.
Thus, if the market does indeed crash in October, at least we will know what caused it, panic spread by internet videos created by ‘foreigners’ of which as everyone knows, we here in America, must be ever vigilant. Forewarned is forearmed as we say!

This was before the S&P500 hit 1000 and he predicted it would drop if it did not climb. It climbed instead of dropping and he said he would be wrong if it climbed instead of dropping during the last few minutes of the video.

Like I said before these graphs and charts don’t work or apply in today’s market in the US. It is like having had 2 decks of cards for blackjack and you are down to the last few cards. So all along you can guess what the next card could be but out of the blue you get 7 new decks of cards ($780 Billion USD!!!) added to that previous deck that only had a few more cards to be drawn. That new stimulus package just gave them an extra $780 Billion USD to play with and until that money runs dry or they decide to pull it down I don’t see the market correcting that quickly. If it were not for that last stimulus package of $780 Billion USD this last rally would not have taken place to begin with.

Ed Note: Just had lunch with a Citibank executive who has just sold all his stocks!