He said 2008 would be a major crash, but he says 2016 will be even worse. He said wal-mart will be the new Saks Fifth Ave. Pretty much a doomsday scenario.
He is just following the basic business cycle. Recession about every 8 years. He just keeps saying the next one will be bigger, and it will go on, and on. He makes money on this type of thing. He is an economic fire and brimstone apacalyptic preacher.
The SLB/CAM merger is official. My CAM shares should convert to SLB shares. Im still not sure if i will be able to buy SLB shares in the future for my 401k. It sounds like i will not which is odd. I now have shares in DFEMX. It seems like a mostly east-asian emerging market fund. DFEMX is not really far below its highs but its decent. Hopefully it continues to drop which would mean its companies are more tied to economies other than China. If it moves up from here then it might be a short trade. Its about $22 now but $18 would be nice. Overall, emerging markets a a great buy right now, almost or close to half off their highs. DFEMX is more like 20% off but i will work with what i have.
‘Godfather’ of chart analysis says the stock-market correction is over
Said Barbara Kollmeyer
Technical analyst Ralph Acampora went on a mini tweet storm a day after Wall Street stocks closed at 2016 highs
Rebound will keep happening for commodities, emerging markets, says Ralph Acampora
The direction for stocks is north, says this technical guru.
Ive never heard of Ralphy, but he must have a nice reputation. We'll see what happens.
So, t rowe price manages my 401k and there will be some changes since April 1 will be the day Cameron and Schlumberger merge. I wont be able to buy CAM anymore and for some reason SLB will not be available for me to buy. I chose to buy DFEMX which is an emerging markets fund. i only have 16 different assets to buy and most either move the same or lack volatility. My options are very limited but ill make it work. DFEMX is about 20% from its all time high and has been in a trendless slump for a few years. It has a weird chart with many holdings. Maybe it will crash for me, maybe not. I hope i will benefit from it if oil goes up, dollar goes down, china goes up or something major happens. Its chart mirrors Ford Motor Co which i cant explain. Ford will probably move lower so maybe that means i can get a better price for DFEMX. :-)
Its getting boring. The sp500 is hovering a little below its all time highs. Oil is going up like a snail but thats something. Most of the action lately has been for swing traders and day traders. Im still buying CAM which will become SLB, so im basically getting SLB about 35% off its high. Thats a good thing. Hopefully my 401k will have something that drops when SLB moves up above $85.
The equity market is still being propped up. Oil is rising but the dollar is falling. This is keeping buying and selling pressures about the same. The sp500 is not too far from its all time highs again. Equities will need a decent storm to knock over the current house before there is a real downturn. The house is propped up pretty well. Im thinking a major market selloff is now pending our presidential election. I need to check my 401k choices to see if anything is low. My current choice probably wont be a good deal anymore by this fall.
