RE: RE: Last chance....Futures confirm the crash has begun. The 200 day MA's are broken with no possibility of repair in the short term. If you are not in FAZ or other shorts already there is still lots of room for the markets to drop over the coming weeks.
For anyone interested in Elliot Wave, I believe we have now started wave 3 down of larger wave 1 down. This will be a very large wave down and has just started. Don't look for any kind of significant bounce on the markets here. There won't be one at this time. There will be some choppyness here and there to lure in a few wishfull thinking bulls, but just sit tight in FAZ. I'll let you know when I think we are approaching bottom....still weeks away....
Richard Russell is the Dow theory guy, and is very well respected. He understands what is happening unlike most so-called analysts/economists/media/governments. I totally agree with him.
The governments created this mess with their total incompetence. Their foolish interventions now to try to prevent markets from falling have zero chance of working, and as a matter of fact with make things worse. If they had let capitalism work the way it is supposed to, we would not be in this ugly situation.
Oh well what can we do but short and protect ourselves...
SC