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According to the newsletters that I read (in particular, those put out by the good folks at Elliott Wave), it is time to sell — sell all stocks, all bonds, all gold and get into T Bills only.  The one caveat they might have would be only for an experienced player and that would be to buy puts.  Their latest Financial Forecast Short term Update puts it this way: “[Monday's] advance was heavily concentrated in the bigget of the blue-chip stocks, with a wide swath of the market lagging.  When the generals charge the hill and the troops begin to peel away, the battle is nearing an end.  All of these techincal factors can persist, as they have at various time previously.  The wave structure is the most improtant factor in determining a trend reversal and the subdivisions shown on our chart indicate that one is close.”  Bottom line: watch out, there is a big big reversal coming soon.  It should effect all markets, according to Elliott Wave’s “all the markets down” theory.  The only exception is the value of the dollar which they say will rise, but it has not quite hit its near term bottom.  So, you are now forewarned.  

 

Here is a link to today’s markets:   http://www.google.com/finance and to www.elliottwave.com

 

Michael

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