Charles Nenner: U. S. Headed for Bad Recession

By on August 21, 2013

Charles Nenner Research CenterNewsmax’s Kathleen Walter interviewed renowned technical analyst Charles Nenner, founder and president of the Charles Nenner Research Center a few days ago.

Nenner indicated the U. S. is on course for a severe recession because there wasn’t enough deleveraging and the recovery from the past economic downturn was so weak. He sees the economy remaining fairly stable through the end of next year, when deflation becomes a problem.

Regarding stocks, Nenner stated, “we had a target of 1,720 on the S&P, so once we were [at] about 1,700 we sold all the stocks.” He added, “the sentiment [is] too extreme. The market is very risky, so we don’t go in anymore. We’ve been out now for the last three, four months and we’re just standing aside.”

In the video below Nenner also discusses interest rates (suggests symbol TBT to profit from rise in rates), the gold market (expects it will take time to recover), Ben Bernanke’s legacy, and the unemployment problem.

Back in June, David Gurwitz, the managing director of Charles Nenner Research, predicted stocks would collapse 60% over seven years [link].

5 Comments

  1. Serjik Elyasian

    August 24, 2013 at 12:47 pm

    Both Charles Nenner and David Gurwitz predicted (in Feb, Mar or Apr 2013) in Mo Ansari’s “market wrap” radio show a 10 to 15% market decline. And the market kept going up and up contrary to their crappy predictions! How could he have a S&P target of 1720 when he was expecting a market decline?!! He says when S&P reached about 1700, he sold all his stocks, and then he adds: “we’ve been out of the market for the last 3-4 months!! Does any one checks his hypocrisy? The market closed 1707 for the first time on Aug-01-2013, and the high for the month of July was 1696 on July-22. So how could he be out of the market for the past 3-4 months and claim he sold his stocks when S&P reached 1700 level, when the index only hit that level on Aug-01?!!

    • Russell

      August 30, 2013 at 3:57 pm

      AMEN!

  2. Stewart Jones

    August 28, 2013 at 10:33 am

    I had the same thought. I caught him recommending equities during a period when he later claimed to have been selling.

  3. Maximus

    August 28, 2013 at 12:03 pm

    Nenner seems to always be out of market the past year (too dangerous). How does he get out at top on every interview?

    Good call on bonds late summer 2012 though.

  4. John Goodman

    August 29, 2013 at 7:20 am

    Nenner sells timing. He can’t get in the habit of missing up or down trends; so he invents buy/sell moves in hindsight. That’s brilliant!

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