Here are the images of the covers of the latest editions of Time Magazine and The Economist. Note the interesting fact that both show an image of someone or something plunging into a deep hole. This is yet more evidence of widespread bearish sentiment and a sure sign that the stock market is headed up a lot from here over the next few months.
10 comments:
We'll see carl. The last time you posted magazine covers expressing negative sentiment while proclaiming to BUY, the bottom fell out of the market. So I say again, we'll see. In the meantime keep trading and don't look too far down the road lest you miss that moose running out in front of your car. ouch.
Lester Tillman
I'm afraid that is not quite accurate. The last posts about magazine covers were made on July 21 and 28. The S&P closed at about 1260 on the 21st and 1230 on the 28th. Right now it is trading at 1230. So if you had acted on the covers you would at this moment show a small loss or be at breakeven.
The covers do not predict short term movements. Their use is for predictions of what lies ahead a year or more in the future.
I planned on doing some buying today...I had planned on it since Friday. I figured today would be a pull-back. It will not be a staight shot up from here..nor would I want it to be. This market has alot of healing needed but I do think last week's low was the longer term bottom. Carl, those magazine covers are incredible. I almost wish I could have collected them all and framed them on the wall just for their historical value.
"a sure sign that the stock market is headed up" i agree historically (in my lifetime) this style has been a good strategy....but a "sure sign". There are no sure signs when it come to the markets.
Well as far as a remember, you did start you "magazine covers" prediction a long time ago...
on the 24th of August 07
on the 21st of November 07
On the 3rd of December 07 (a nice call bullish on the dollar while it was trading at 1.44!)
On the 25 January 08
Sometimes, during exceptionnal times, newspaper could get right...
As stated above we'll see
Balsamo
Have you ever studied similar source material of the 1929-32 period (eg magazine and newspapers of the time)? Did this contrarian approach hold up then?
Carl:
I have a question - on days when you do not post your trading activities - are those days (like today) you are stay on the sidelines, and if so, can you please explain the reasons?
Very helpful posts!
WC
Oil jumped 20% today ~~ psychopathic markets.
REMEMBER, markets are not what it used to be. It does not matterh whether you traded for 100 years. :(
Carl,
btw, even though I don't read your blog often, I remember that you were foolish to taunt bullish stance even though you are proven to be wrong.
All I ask you is to stay away from being fooled and being used as a contrarian indicator by cruel market killers moving markets with colluded international funds.
You are being fooled if you really don't know what is going on.
If you know what is going on, you are of course another scammer.
What a fool, pity.
I hope that you are right, but at least, don't be a fool manipulated by Mammons.
Sad, sad, sad
Dear Carl:
Over the past few months you have posted many magazine and newspaper covers, all proclaiming the end to be near. There has been no 'magical' rally to take us to the promised land. Also, with the SEC all but the banning short selling, this market does not have anywhere else to go but up. And when the short-selling ban is lifted? It might make the 1987 Crash look like a "correction". The governement of the US is about to step in and spend almost 1 years worth of US GDP. This is simply unprecedented. We need a watershed event like a crash of around 50% to make this market remotely attractive for investment. Please thank your cool headed Wall street buddies for this one. Something that I guess no one saw coming!
Rico
Toronto
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