For anyone who has read this blog or heard me speak understands that I am quite willing to take criticism for being either wrong in my conclusions, or appearing wrong because I was early in my forecasts. Often when I am speaking to a group or an individual I will repeatedly state…” I could not only be wrong, but I might be dead wrong, however that doesn’t mean you shouldn’t research it for yourself and try to prove it either way. The more skeptical you are of my conclusions which leads you to research it yourself, the better it is not only for you, but also for me.” As I stated many times, my statements have more validity when you understand them to be correct, not just because I say so.
I have been stating over the last year that I felt we were in the middle of a financial hurricane. Every single so-called “expert” has been stating that the worst is behind us. I still believe the worst is ahead of us. I have made my calls and posted them right here on this blog, some of my writings have appeared in such places as Forbes.com…CEOnetwork (R)…and even on a professional Futures trading service for international traders. (SquawkTrader.com) Just click through the archives, they’re all right there. No hiding, no running, no hemming or hawing. That’s what you do if you want to be taken seriously. State what you think is correct, and let the chips fall where they may, Period.
Below is a link to an audio recording from May 6th, 2010. It’s from a service I currently subscribe to. It’s Ben Lichtenstein the owner of TradersAudio.com. To put it into a picture for you, Ben overlooks the S&P trading pit on the Chicago Mercantile Exchange. He calls out the trades that are happening on the floor in real-time to help traders understand what is going on in the pit at any given time. They do not allow cameras there, but they do allow this service to be broadcast. It’s subscription only. You have all likely seen on TV the shots of the exchanges with all these guys screaming Buy….Sell. Well here’s a link provided courtesy of TradersAudio of what that fateful 15 minutes of panic sounded like.
As I stated earlier, if this is not a one day wonder but the beginning of a much larger storm, many will be caught not only off guard, but without a life vest… or worse. Prepare for the worst, hope for the best. It’s still the best advice I know.
© 2010 Mark St.Cyr All Rights Reserved