A US/Worldwide Stock Market Crash Might Occur In The Next Few Weeks
A US/worldwide stock market crash might occur in the next few weeks, either due to a financial system breakdown or a seriously deteriorating economy. A crash would affect nearly all sectors, due largely to program selling, including the precious metals sector. NEM and FCX are in the lead program trading index SPX (S & P 500).
Look at today 9-25's economic data at http://biz.yahoo.com/c/e.html. New Home Sales were only 460,000 versus the expected 518,000 and the previous 520,000. Initial Jobless Claims were 493,000 versus the expected 450,000 and the previous 461,000. That's dramatic deterioration folks. I look at the economic data every day, and, it almost always comes in worse than expected, and, often comes in much worse than expected.
NEM XAU HUI
Look at today 9-25's economic data at http://biz.yahoo.com/c/e.html. New Home Sales were only 460,000 versus the expected 518,000 and the previous 520,000. Initial Jobless Claims were 493,000 versus the expected 450,000 and the previous 461,000. That's dramatic deterioration folks. I look at the economic data every day, and, it almost always comes in worse than expected, and, often comes in much worse than expected.
Even assuming that a massive bailout stops and begins to reverse the credit freeze, the US and world economy is in bad shape, and, is getting far worse. Some people say that we're (USA) not in a recession yet and cite Q2 GDP data. Well, take out government spending and the stimulus checks, THEN tell me what growth was. The private sector of the US economy has probably been in a recession since December 2007, if not earlier.
I'm not a gloom and doomer, that's just how it looks right now.
.......http://www.JoeFRocks.com/NEM XAU HUI
Labels: Gold, Gold Stocks, HUI, NEM, Silver, Silver Stocks, SPX, XAU
posted by Joe Ferrazzano at
10:15 PM
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