I'm still updating charts and getting my bearings. No comments at this time on the markets.
You all know I am pretty much Mr. Negative or something like that. I have been for a long time. Every now and then it is nice to hear an "expert" confirm my thoughts and theories. Well, if John Taylor of FX Concepts, the biggest currency hedge fund in the world is qualified as an expert, then I am in some pretty good company. Either he's been reading Shanky's blog or we think a lot alike. Of course I have been saying what he is for over a year now, so he may be a bit late to the game. In the meantime, this blog will remain in the shadows of the big boys plodding along, sadly I guess where it deserves to be.
Please read Step Aside Roubini - FX Concepts' John Taylor Is The New Dr. Doom: "2011 Will Be Worse Than 2008" from my favorite blog Zero Hedge.
"The cycles and very simple fundamentals are enough to predict that 2011 will be worse than 2008. The medium-term cycles tell us that there is a very high probability of a serious bout of risk aversion beginning in the next five trading days and continuing into the week of May 3. This is likely to be most apparent in Europe, but it should also impact the equity and commodity markets around the world. The stream of strong economic and corporate news, plus continued benign inflation outside of Asia should assure us of a further risk rally, starting in May and running through July and possibly into early August. This decline after the August peak should be far more serious and we believe it will be the start of a major market rout continuing into the middle of 2011, at a minimum. The deflationary recession that will accompany this market collapse, at least in the developed world, will put extreme pressure on the Eurozone and the EMU structure. The second half of this decade will witness a very different world." John Taylor.
