Gary Kaltbaum's Investor's Edge
Thanks to a certain Naybob of a Simian nature, here is Gary Kaltbaum's latest missive originally posted on TradingMarkets.com. In this report, Gary K. harkens to his March 21st report and then brings us into the present. We are on the same page with regard to the markets.
From his March 21 report: "I believe we are in a broadening top for equities. Tops take time. They tease the shorts as well as the longs, as relief rallies suck investors in. If the major indices break their 200 day averages, I believe, at the very least, we will see something akin to last year...10% drop on the DOW and S&P and 20% for NASDAQ-types. We will then reevaluate."
From Friday's report: "this report has outlined for you the vital support in the market. As of this writing, all those support levels have been breached...and on volume. Every sector we have talked about as topping...is imploding. TRANSPORTS, RETAILERS, SEMIS, CYCLICALS..
CYCLICALS are not just correcting...they are not just topping...they are being ripped apart at the seams...AND THEY ARE SENDING A LOUD MESSAGE. Since the market looks out several months, expect to hear about a major slowdown by late summer.
GOLD has now totally broke down with other COMMODITIES. HOUSING now not only looks sellable...but shortable here. HMOs have topped. they have been leading but the party looks to be over. Ignore at your own risk."
Gary is a FOX News, Republican, William O'Neill, Investor's Business Daily, devotee. His viewpoints and politics do not always agree with mine, to say the least. However, I respect the commonality we share regarding COMMON SENSE in the markets.
Gary is a real Mensch ( מענטש ), so get over there and read it. Then click on the link under MY FAVOURITE PLACES, Gary K's Investors Edge and take the time to listen. It is time well spent. And as always, take the best and leave the rest.
Gary K's Latest
From his March 21 report: "I believe we are in a broadening top for equities. Tops take time. They tease the shorts as well as the longs, as relief rallies suck investors in. If the major indices break their 200 day averages, I believe, at the very least, we will see something akin to last year...10% drop on the DOW and S&P and 20% for NASDAQ-types. We will then reevaluate."
From Friday's report: "this report has outlined for you the vital support in the market. As of this writing, all those support levels have been breached...and on volume. Every sector we have talked about as topping...is imploding. TRANSPORTS, RETAILERS, SEMIS, CYCLICALS..
CYCLICALS are not just correcting...they are not just topping...they are being ripped apart at the seams...AND THEY ARE SENDING A LOUD MESSAGE. Since the market looks out several months, expect to hear about a major slowdown by late summer.
GOLD has now totally broke down with other COMMODITIES. HOUSING now not only looks sellable...but shortable here. HMOs have topped. they have been leading but the party looks to be over. Ignore at your own risk."
Gary is a FOX News, Republican, William O'Neill, Investor's Business Daily, devotee. His viewpoints and politics do not always agree with mine, to say the least. However, I respect the commonality we share regarding COMMON SENSE in the markets.
Gary is a real Mensch ( מענטש ), so get over there and read it. Then click on the link under MY FAVOURITE PLACES, Gary K's Investors Edge and take the time to listen. It is time well spent. And as always, take the best and leave the rest.
Gary K's Latest
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