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It’s Summer and the Stock Market’s Peaking…

23 Jul

Just reviewing my Harry Dent materials – HS Dent.com and noting that his prediction of a July rally of the stock market is rather right on track – as we hit 9000 today for the first time since january.

I guess if I had anothing in the stock market I would be getting ready to get it out – but since I don’t it’s all good. Hope my friends who do are preparing their exit at this peak moment.

For all that the banking and finance system seems to be coming apart, there is huge opportunity to create new and important gains in the succession of crashes before us…

Just remember that a rally in a bear market is a bear market rally – and technical indicators (as well as sheer market facts such as the now unfolding Prime Mortgage meltdown, which I really do think should be renamed the Credit Buble Inflation Index, as it operates all on its own and the lenders took agressive advantage of the inflationary bubble they created with their easy, cheap money policies.

I still say when the banks are forced to write down the losses and go under or be recreated then the system will have righted itself. But it cannot do that until the inflated values are taken out of the current mortgages either by foreclosure or sale or principle reduction. Of course no one has the nads to make the banks do that – hell, they’re still paying out bonuses while Bernanke whines in Congress about destabilizing the money system! I say DESTABILIZE IT! Hell, tear it down and start over – and take the bankers out of it all together. No more private rich bankers eating the wealth of the world like a poisonous snake eating it’s own tail. Without them, we’d all be rich.

It’s just too bad no one in power in the world seems to be willing to confront that or do anything about it.

But for now, it’s July and the Market is in a Rally – and it’s time to get ready to sell – if you’ve managed to hold on this far. You’ll only get a high between 9800 and 10300 according to Harry – I wonder if he is still a little high in those numbers, myself.

So we’ll keep watching and see -

 

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