On 3/21/09, well before the last rally a certain internet web-site predicted the surge--but he has an explanation. No wonder he has been so good about predicting the movement of the markets.
If you want to see his complete explanation please go here.
If you want to see his complete explanation please go here.
Here is a relevant quotation:
Gee, do you think that if we could show a profit after being given a $50 billion handout from taxpayers, that we could help ignite a stock market rally? How utterly ridiculous. The current rally in stocks is like a siren song, luring people back into the market so they can be dashed on the rocks once again later when the rally fizzles and they suffer losses anew. This classic bear market rally is a place where even angels should fear to tread, so we suggest you just keep accumulating precious metals stocks while they are kept artificially low. Only insiders know when the current rally will be allowed to fizzle, so unless you are an insider, you will get burned and become a crispy critter. Anyone who participates in this bogus rally is empowering the Illuminists, and is making their game much easier, and more profitable, to play.
A few days later on 3/24/09 the DOW jumped 500 points.
Another relevant quotation:
U.S. stocks staged their biggest rally in five months yesterday, led by an 18 percent surge in financial companies, on speculation the administration’s plan to rid banks of toxic assets will revive the economy. The gain pushed the S&P 500’s increase since sinking to a 12-year low on March 9 to 22 percent, the fastest two-week advance since 1938.
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