Tuesday
Aug242010
Market Strategist Charles Nenner: Dow Could Fall To 5000 In Next 24 Months (VIDEO)
CNBC Video: Charles Nenner -- Aired today
Purely technical analysis -- all charts, no fundamentals, though Nenner has a solid track record, including calling the recent bond rally back when the 10-year was at 4%. No word whether Nenner's models accurately account for Bernanke-Geithner PPT futures buying.
Related:
Bonus clip:
Video: Nenner with Maria Bartiromo on Dow 5000 -- July 15, 2010
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Aug 24, 2010 at 2:53 PM
Reader Comments (37)
http://www.cnbc.com/id/38826988
http://dailybail.com/home/dow-5000-call-market-strategist-david-hefty-warns-with-17-tr.html
From May...hefty is more interesting than nenner...
Some people call this "making America into a third world country."
But the Chinese, Indian, Brazilian, Singaporean, Chilean and other stock markets have gone up rapidly during the last few years because they sell into a numerically very large upper middle class and wealthy class in their own countries and all over the world. Their poor people grow poorer along with ours but it doesn't matter for total sales volume.
If the multinationals can change their sales targets from ordinary Americans and Europeans to very large world markets of wealthy people in China, India, Brazil .... then they can continue to make profits and even record profits.
I'm not saying this scenario is a certainty but it is a possibility.
If it was easy to get rich predicting the future movement of markets all intelligent people would already be rich.
But it isn't and they aren't.
http://www.cnn.com/2005/POLITICS/05/09/real.delay/
http://www.cis.org/node/409
http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=364x2177749
Tom Delay and Jack Abromoffs goal was to eventually bring this "economic model" to our shores, but don't worry' it is all just a coincidence...
http://www.washingtontimes.com/news/2010/aug/24/boehner-obama-must-fire-entire-economic-team/
You know what I want...
You may also quit idolizing John Boehner, he is no savior, in 2006, Boehner displayed his aptitude for taking advantage of other people's criminal indictments when he succeeded Tom Delay as the House Majority leader.
Electrifying conservatives with his stern pro-business, anti-corruption, small government positions, Boehner would quickly disappoint most of his supporters by approving $9.8 trillion dollars in President Bush's budgets. While most lawmakers are unable to follow through on every promise they make, it is uncommon for a politician to do the complete inverse of every promise they made. Lets not forget his yes vote on the "donation" to the banks in 2008. John is a career politician, nothing more.
Watch what they do not what they say. And before you say "he learned his lesson", they never learn, history proves that.
You know what I want...
You may also quit idolizing John Boehner, he is no savior, in 2006, Boehner displayed his aptitude for taking advantage of other people's criminal indictments when he succeeded Tom Delay as the House Majority leader.
Electrifying conservatives with his stern pro-business, anti-corruption, small government positions, Boehner would quickly disappoint most of his supporters by approving $9.8 trillion dollars in President Bush's budgets. While most lawmakers are unable to follow through on every promise they make, it is uncommon for a politician to do the complete inverse of every promise they made. Lets not forget his yes vote on the "donation" to the banks in 2008. John is a career politician, nothing more.
Watch what they do not what they say. And before you say "he learned his lesson", they never learn, history proves that.
It is a shame you love all those things...
http://www.youtube.com/watch?v=MAC2xeT2yOg&feature=search
I've always thought of myself as a libertarian-anarchist (the word anarchist sounds like atheist so people usually use the word libertarian in the same way they use the word agnostic.)
But when you realize just how pissed you are at people that do things you don't like them to do then it is hard to stay in "the live and let live" camp and resist joining "let's make things better" camp.
How do you justify calling yourself a libertarian and not a progressive when your deepest feeling is to put all of these people in jail for stealing so much money and betraying the trust of the electorate?
I mean where does "live and let live" begin and end and where does "kill the bastards" start?
Is it because I attack Republicans as well as Democrats...
I'm okay with it. I understand it.
When you contemplate that the cold blooded dinosaurs were wiped off the face of the planet 60 million years ago by a chance meteorite that caused a two-year-long nuclear winter then Social Darwinism seems like nothing more than a futile fantasy.
Scientists have discovered dinosaur skulls the size of human skulls and are almost certain that they housed brains as large as ours.
Our ancestors, who were tiny lemur-like, warm blooded animals the size of a mouse who hung from trees and watched the dinosaur action from the safe distance of their high perches, survived the nuclear winter because they had thick fur and could maintain their body temperatures while the cold blooded dinosaurs could not.
The concept of "social" Darwinism seems even less useful than Darwinism which is the physical survival of the fittest.
Not where James, but when. The way our society is collapsing that when maybe right around the corner.
D.B. I am amazed Sinead can walk upright with balls that big.
It was only a few years ago that if you warned people of a housing bubble or a dot com bubble they wanted to drain blood from your body.
Now they want blood from those compliant bankers who loaned everyone and his insane uncle money for no money down.
Both sides, lenders and borrowers, were motivated by greed and easy profits.
And the whole system was bad but while everyone was partying just a few curmudgeons complained.
The problem is, when any government or society collapses the people show themselves to be a savage, bloodthirsty mob who have to be restrained by the most brutal violence from existing powers.
I don't think any of us wants to see the United States devolve into civil war or revolution.
As for Sinead, it's not balls, it's naivete.
She can go sing to Ahmadinejad and his new drone, "the Ambassador of Death".
I don't want to see blood in the streets anymore than you do.
However when a society is as riddled with corruption and inequity as the United States is today collapse is almost a certainty. I wish I could believe that things are going to work out but I don't see how.
Both parties of the government are corrupt, incompetent, and compromised. I don't think they have any idea how to straighten this mess out. Both parties contributed to this recession and instead working together to fix it all they do is blame each other for causing it and make sure the elite wealth is protected.
There is one other thing you can bet they will do. At the first sign of resistance by any individual or group of people they will overreact big time, as they usually do. That is what I think will light a fuse they will regret lighting. There are lots of real pissed off people out there and those idiots in their crystal towers on Wall Street and in D.C. are not paying attention.
It's not as bad as you think but it's worse than it has been since the Great Depression.
But if you compare our history with Europe's or Russia's or China's, for example, we've got a long way to go to experience the kind of chaos they've experienced.
Human nature has always had a venal side and we Americans have a great deal of blood on our hands. But we we're lucky enough to have been a virgin continent and a magnet for all the oppressed peoples of the world and those ancestors are, paradoxically, our strength.
But yes, we could implode. It seems to many that we are at the same place Rome was during its civil wars and just before Caesar (reluctantly) brought an end to the Roman Republic.
All I ask is that you study history if you want to know what's coming. It's our only guide. Forget your intuitions. None of is as old as Methuselah so we need history.
Just because it is worse than it has ever been in your lifetime does not mean that we are ready for a revolution or civil war!
I hope your right, but just in case a storm blows in I'm keeping my boats close to shore.
During the American Revolution about 40% of Americans sided with the British, if my memory serves me right. They were, obviously, conservatives. Most of them were forced to move to Canada after the American victory.
Washington, Jefferson, Adams, Hamilton, Madison, Franklin and the other revolutionaries were given the death penalty by King George if they were captured.
The best strategy depends on your age, politics, wealth and health. There's no easy answer.