What's Next - Part 4
There are only two alternatives, both head in the same direction - DOWN! The ten year bull market left equities extremely overvalued. We can either crash and reprice 25-40% or have a drawn out bear market that does the same thing over a longer period of time. Use this morning's dead cat bounce to sell if you haven't already gotten out of stocks. There is still a good chance of a crash this week. If not, the decline will be spread out over a longer period of time. All of the technicals are terrible and we have not seen anything in the way of the extremes that are indicative of capitulation. Get out now. Chartsmaster
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