Karl Denninger thinks we're on course to lose all the gains of the last 5 years:
I am updating expectations for this Bear Market; I no longer believe 1070 on the SPX will hold, and have now moved to the camp that sees the potential for the S&P to retrace all of the 2003-2007 Bull Market's gains, taking us back to around 800 on the SPX.
In the UK, the FTSE closed at 3,287.00 on 12 March 2003.
1 comment:
That is certain, the only question is over what timespan exactly? If I could predict that I'd be responding to this post from my own private Island now.
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