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Speaking of Robin Landry
His latest note to colleagues in the professional investment manager world has popped up
Attached is a chart showing the count as I see it currently. The Dow continues to follow the count I have laid out over the last few weeks and I feel we are ready for an acceleration to the downside in (3) to the 8500-8000 area, then a rally for (4) before turning back down for (5). It was brought to my attention than Richard Russell of Dow Theory Letter has just issued a sell everything alert today. That is something I don’t recall him ever doing, but he is the DEAN of letter writers and his view corresponds to my analysis that we are in the beginnings of P3 down to levels below the lows of March ’09. Here is a link to an article stating his views. canadafreepress.com... . I want to point out that the weekly MACD has again crossed to the downside with a bearish divergence on the Dow. The last time this happened was in Oct ’07 a couple weeks after the market top and the start of P1 down. CAUTION is advised.
Forget the short-selling ban, Germany’s plan to tackle budget transgressors (as outlined in Wednesday’s Handelsblatt), is what we should be REALLY worried about, according to RBS.
Before we get to that, here are the highlights of the draft document as seen by the paper:
1. Failing to comply with deficit reduction means temporary loss of EU Structural Funds.
2. Possible irrevocable loss of EU Structural Funds.
3. For serious budget failure voting rights in the European Council could be withdrawn.
4. As a last resort, a managed insolvency proceeding for bankrupt states.
Now, RBS’s Harvinder Sian thinks this plan would take the crisis to another level and would be a clear flag to get out of euro assets in general
Originally posted by DangerDeath
reply to post by Chevalerous
Funny thing. Dollar goes down, gold goes down, euro goes up...
Euro is now 1.234
Gold 1197 (-17)
Dollar index 86.53