Joe Granville Calls for Stock Market Collapse on Bloomberg Interview

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Mike Swanson
Mike Swanson's picture
Last seen: 3 hours 31 min ago
Joined: 10/15/2010 - 06:21
Joe Granville Calls for Stock Market Collapse on Bloomberg Interview
Michael tiny Saul
Last seen: 2 years 5 months ago
Joined: 12/05/2011 - 09:23
Gotta love it

At least he is firm in his opinion. Wow

Last seen: 41 min 30 sec ago
Joined: 11/14/2010 - 11:48
yup - richard russell has

yup - richard russell has been quoting him much the last few weeks. Russell believes a big top is forming.

so who has the big ones to short this to the max right here , right now?

kaibo888 (not verified)
Wow yeah!

It seems the old boy has his guns aimed right. But that 'call was a week ago.' He did say however that his 20 day cycle ended on that particular Friday and he gave himself an out by adding some variation to the the timing.
When we couple it alongside the performance of gold and silver this last week ending February 3rd, we might also conclude the momentum just couldn't break resistance levels beyond 1780 and 35 respectively. Unfortunately, if markets dive I can see PMs following them down. Seems like volume is going to carve us up on both sides of the fence. Although I awoke this morning, following my inclination to call last Friday as the 'make or break point' - I am at first sight buoyed by gold at <1700 and silver at <33. I thought we may have 'corrected' or endured a deeper level of 'profit taking' further; so perhaps Oceanic, Asian and Euro markets today will give us another indicator as to where these markets are going.
On that, 'market indicators' - the dollar indicated yesterday that a resurgence might be in the near term but I am no authority. PMs and the dollar were both floundering on the upside on close yesterday, but if equities see cash exiting this week, I assume it should support the dollar.
I read an article the other day that outlined why cash is king. Jon Nadler was all over the resurgent dollar last swing around but as yet have not seen his calls pumping the dollar volume. I'll see if I can locate the article about cash and post it somewhere. It made me think about my own strategy.
At the end of the day, it seems like nothing can be trusted at present as 'volatility and uncertainty' are crowned as the princes of 'momentum.' Therefore, cash is king! Only problem there is, I can't get there without taking a hit. Oh bugger!

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