Prepare for the worst NOW!

According to expert James M. Carrillo, all of his technical charts are screaming to sell when it comes to stocks. He also see the Dow dropping to lows of below 7,000 in the near future.

By James M. Carrillo
Friday, September 30, 2011
Gold IRAs

I am sad to say, it's over! It looks like it is in fact, over for stocks and maybe Europe too. This will drag down many companies and people. This is my first major sell signal since 2008 for Stocks. I think the world is about to change completely.

All of my technical models for the first time since January of 2008 are screaming sell today, the last trading day of the month, that article "Stock Market has broken, we are in for a rough ride!!" can be found here http://goldiras.com/1200932202 .

I see an imminent retest of the Dow lows of below 7,000, if not worse. The fundamentals have been screaming this for months and now, we have the technicals supporting it. It could get very ugly. Keep in mind this could begin now or a couple of months from now, as it did in 2008, be prepared.

I use the S&P 500 as my main indicator because it follows 500 stocks not 30. Both are screaming get out.

I will simply quote my article from 2008 because it was 100% correct in every aspect......

"Why is this important to gold investors? Because the short term ramifications will effect gold negatively as stocks are liquidated this causes pressure on all markets and generally a firming of the U.S. Dollar until the dust settles. Then of course the liquid funds will look for a new home and the Dollar isn't the safest place these days! Surely it won't get any better for the greenback either, as the stock market plummets it will force the fed to lower rates even further which in turn will cause the dollar to plunge to new lows. Bonds will rally sharply as the flight to quality? kicks in. Are U.S. bonds a flight to quality anymore?

Furthermore, this is effecting markets globally as U.S. Recession fears are hitting all markets today. Currencies are all being hammered. So where do we look? Gold has to be the best bet globally therefore, I believe we should aggressively buy the panic drop in Gold prices as a true flight to quality. 2008 could be one of the largest shifts in wealth in modern history, from paper asset holders to hard asset holders.

If nothing else, buy gold as an insurance policy, we are all in for a very rough ride."

I see it this way again, but this time it will get far, far worse. I am NOT willing to wait on buying gold I will continue to accumulate should it drop some more. I don't see any alternative to gold because it has NO DEBTS or LIABILITIES attached to it. Everything else is nothing but debt and liability. All currencies are being diluted worldwide, all depend on the full faith and creditworthiness of the issuing Country. All are in bleak dire straights. In any event the dollar will strengthen in the short term as people run for the exits. Gold looks very strong when compared to all asset classes. I still see gold rising to $5,000.00 over the long term.

Staying in cash may end up being the worst decision anyone can make. I now see a very strong possibility that the entire banking system could collapse, and the world as we know it even today will be completely different.

Look for QE3 and 4 and 5 as the Fed looks to monetize the debt and prop up the World Economy as Europe collapses and takes down many with it.

Buy Gold, Buy Silver and pray I am wrong. I fear I am not. Both the fundamentals and technicals now support it.

To see original article CLICK HERE

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