Remember the scene from "An Officer And A gentleman", where Richard Gere is in the altitude chamber with his oxygen mask off at a simulated high altitude? Things get silly and confusing. Counting from 1 to 10 is almost impossible. This confusion is brought on by an oxygen deficiency called hypoxia. All military and commercial pilots are trained to recognize the symptoms, and will automatically don a mask if not already wearing and gang load their O2 system, that is, O2 100% with positive force and no ambient air. Well, the stock market is flying with no cabin pressure and no oxygen mask.
The market is downright silly! It can't count from 1 to 10 and is laughing at its own situation. Without any oxygen at its current altitude, it only has ONE OPTION. That, and my counterparts of the airways will confirm, is to drop the nose, get low and dirty. The market needs a major correction near term. Also, don't forget the power of seven. I won't get into this lengthy explanation, but years ending in seven have had many bad outcomes for the market. 1927-1987-1997
Ladies and Gentlemen, we are due for a major correction. Please see my past articles on this subject as well as contrarian options for the average investor. Don't bail out although. Cash is not king these days. The best bet is to shift assets into materials and energy, and not the fluff stuff, but big oil and rocks. I'm not a follower of Howard Ruff, but if he is right 10% of the time, then by this time next year he will have been right 11% of the time. The retail and banking environment will change for the worse, putting us back 20 years. Bartering will come back into fashion. We may not be leaving baskets of fresh fruit on our doctor's doorstep, but close to it.
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