But that is neither here nor there. This person started his article with "I started writing an article a few days ago in which I was calling a top for the Dow."
And then goes on to say that the meltdown on Tuesday proved his point. Ok why not and so what - you're a genius there - I said it - happy. Anyway that's not the point of this post - he goes on to say that he didn't understand why gold and silver were smacked down too and wrote it off to being an emotional reaction blah blah blah. Readers of this BLOG know that the real safe haven is Radio Shack - I proved that the other day conclusively - unfortunately this self-important person turned off his comments so I can't point him to the article that will save his life in the coming meltdown. No matter - what got my butt up in the air was this -
We can't say the same for the U.S. economy and we are considering shorting the housing sector. New-home sales plunged 17% in January. This was the biggest percentage decline in 13 years and may signal a coming deflation, if not burst, of the housing bubble. This bubble has been the most significant force keeping the U.S. economy afloat
First - where has this person been for the past 18 months? I guess gold bugs are a little slower than the rest of the population - obviously. Second - this is the guaranteed all time contrary indicator - when a hard-core gold bug is going short housing it means that the housing crisis is over and we can start investing in TOL again.
All kidding aside - always remember rule 1 - Nobody Knows Nothing - Including Me. And if you say that in front of your bathroom mirror every morning you will be better off for it. That's the other thing I wanted to pass along to this guy.