OK, first review this video and then we'll review this blog's presiding theme for at least the past year.
Bob Janjuah Dismisses Central Bank Independence Amid Monetary Anarchy | ZeroHedge
I have no clue about the 1500 talk, but with this centrally planned and wholly manipulated market you can not discount the possibility especially with the market being all there is left between the government and total anarchy in this nation and in an election year.
For more than a year STB has been on the crash to get QE3 (and another short squeeze) call. Recently I have been looking for the standard 15 to 20% corrective when Twist ends and that will be followed by screams and demands for QE3 or some sort of intervention to raise the markets into the elections regardless the consequences. Bob discusses 1300 and mid 1200's which have been mentioned here very often recently with my possible low of 1170. I get tickled when the experts come to where I have been for some time.
Daily SPX - See Bob's 1300 and mid 1200 (1260 to be exact) targets on the chart? You can then move to 1220 and then my 1170 target as well.
I suggest you take a look at Central Banks Favour Gold As IMF Warns of “Collapse of Euro” and “Full Blown Panic in Financial Markets” | ZeroHedge if you have not seen it. This is the IMF speaking not some hack reporter's opinion. Last time we heard this was the last time they needed money like they do now. Welcome to the world of financial blackmail as originally made fashionable in america by Paulson in 2008.
Why do they need so much money? Well, Spain would be the first place to look (and then right at the rest of the PIIGS following down the road of debt). They do not have near enough money to even solve the crisis in Spain (and with Italy and France waiting in the wings - they need A LOT MORE money). "The problem of course here, unlike Greece, Ireland and Portugal, is that the needed amount of capital will overcome the present resources of the Stabilization Funds and require substantial additional funding which is likely to lower the credit ratings of every nation in Europe. If one of the two major Spanish banks hits the wall then the problem becomes magnified further as it would be catastrophic for the other major banks in Europe." A Quick Reminder Ahead Of Tomorrow's Spain Debt Auction | ZeroHedge
If you think my harping on prepping and moving hard assets like silver coins that can be used for barter, let this post covering recent economic reality in Greece be a warning. The Birth Of Barter: How One Greek Town Dropped The Euro And Moved On | ZeroHedge
As I have been saying since the beginning of earnings season, wait for the AAPL and FOMC combo next week to get your final road map till the end of Twist in June. Other issues on the barbie right now, opex, G20/7 meetings, IMF meeting and the French elections can all rock the markets over the next week. Yu need to be prepared for literally any sort of move at any time. I expect things to become very volatile over the next week and a half.
GL and GB!