Birchtree
Well-known member
Make room for the new Soothsayers
Elaine Garzarelli, Abby Joseph Cohen. And now Charles Nenner. By the way, none of these people speak friendly of the Wizard - needed clarfication.
In every tumutuous market, investors seek out a guru who can divine a market turn. This time, investors are finding comfort in Mr Nenner, who runs Cycle Forecasting Inc. Mr Nenner is about as unconventional as they come. He lives in Jerusalem, spends much of his day studying the Talmud, and sends twice weekly emails predicting moves in everything from U.S. and European stocks to oil and cattle prices.
Mr Nenner sent a prescient email predicting that the U.S., Japanese and European stock markets would hit a high on May 10. That day, markets around the globe hit a peak. Since then, the S&P 500 index has dropped 5.5% and bolbal markets have fallen further. In late May, Mr Nenner said the S&P and Nasdaq Composite Index should now turn down again into 6/14 - a reference to Juned 14. That too was an on the money call; June 14 was the recent low for the stock market.
Now, Mr Nenner expects stocks to stay strong until July 10 but foresees another weak patch after that. Hey, the Birtch can use the much needed breathing room until July 10. After that it's back to my Ducati.
Early readings on corporate profits are good. Only three of 21 companies in the S&P 500 that have reported results so far this quarter missed analyts' estimates, according to Thomson Financial. That sais, earnings won't be in full swing for several weeks. I also notice that Consol Energy is being added to the S&P 500 index. Marathon Oil was previously added. As a secular play energy will be the paramount game in town - add even more to the SPX.
Elaine Garzarelli, Abby Joseph Cohen. And now Charles Nenner. By the way, none of these people speak friendly of the Wizard - needed clarfication.
In every tumutuous market, investors seek out a guru who can divine a market turn. This time, investors are finding comfort in Mr Nenner, who runs Cycle Forecasting Inc. Mr Nenner is about as unconventional as they come. He lives in Jerusalem, spends much of his day studying the Talmud, and sends twice weekly emails predicting moves in everything from U.S. and European stocks to oil and cattle prices.
Mr Nenner sent a prescient email predicting that the U.S., Japanese and European stock markets would hit a high on May 10. That day, markets around the globe hit a peak. Since then, the S&P 500 index has dropped 5.5% and bolbal markets have fallen further. In late May, Mr Nenner said the S&P and Nasdaq Composite Index should now turn down again into 6/14 - a reference to Juned 14. That too was an on the money call; June 14 was the recent low for the stock market.
Now, Mr Nenner expects stocks to stay strong until July 10 but foresees another weak patch after that. Hey, the Birtch can use the much needed breathing room until July 10. After that it's back to my Ducati.
Early readings on corporate profits are good. Only three of 21 companies in the S&P 500 that have reported results so far this quarter missed analyts' estimates, according to Thomson Financial. That sais, earnings won't be in full swing for several weeks. I also notice that Consol Energy is being added to the S&P 500 index. Marathon Oil was previously added. As a secular play energy will be the paramount game in town - add even more to the SPX.
