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Former Goldman Analyst Charles Nenner: A "Major War" Is Coming At The End Of 2012
Courtney Comstock | Mar. 11, 2011, 7:11 AM
He started off the interview by saying that he's telling his big clients to get out of the market because the DOW will drop to 5000.
"We went log in 2009 in the first quarter [when] we had a price target of 1356 on the S&P 500 , and we're getting close," he said. "So I told my big clients, hedge funds, pension funds, and big firms to go almost totally out of the market."
The question was, What would trigger the DOW dropping to 5000?
Nenner replied, "Well, I don't want to depress you, but I should tell you that I also do war and peace cycles and it shows that were going to have a major war at the end of 2012, beginning of 2013. And I think that's going to do it."
...Nenner also said that if the S&P closes below 1300 there could be a major move to the downside.
Almost on cue, yesterday, the stock market closed at 1295 on enormous volume. With the mid-East protests and specifically the “Day of Rage” planned for the weekend, it appears that the market will continue it’s swoon into the weekend.
Nenner also sees a major war at the end of 2012-2013 that will most likely take the Dow down to 5000. Nenner has been talking about the timing of this military conflict for several years. It obviously is an cycle that he has conviction in....