IBD Man is Here - Goldman says get the F out of stocks NOW
1250 target and morgan Stanley has a 1167 target. so thats an 18% drop. That means the IWM probably would drop 25% in that time frame of now until the election in early November. So goes the China market so goes the US. overlay the 15 year charts of each. and china is leading the US markets lower. look at all the H & S patterns setting up (right shoulders) on IVE, EEM, EFA, NYSE Comp, Canada index.
still standing by my IWM call of $68 before the Election on November 6. better get to cash or be short the index via TWM or TZA. You will make alot of money but use stops on these leveraged instruments in case I am wrong. Closed below 50 DMA today. Now IWM is below declining 10 and 20 and below flattening 50. could plunge to TL at 80 then breach for a test of 200 at 76.50 then the June low of 73.5 before settling at the $68 level and late Nov 2011 low for the Nov 6 Election. If Obama gets reelected we plummet to the Oct 2011 lows around $60. If Romney wins, expect some stabilization and a bottom will be found quite quickly in the $689 area.
Goldman said that on June 21st. How many suckers do you think they convinced to go short and how is that working for them/you. Have you looked at the 1 month chart for the Russel? tired of being short yet?