Prediction Results – Gary B. Smith, Gary Kaltbaum, Scott Bleier

By on January 22, 2008

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The results from predictions by Scott Bleier, John Layfield, Gary B. Smith and Gary Kaltbaum serve as further proof the pundits on T.V. can’t predict market movements with anything resembling precision. Gary B. Smith and John Layfield have been especially incompetent by consistently extolling housing and financials as buys when they have been two of the worst sectors to be in.

As I write this worldwide stock markets are in free-fall, which they deserve to be given the excesses that have been going on for the past five years. Financial institutions were incredibly lax in lending money to people who had no hope of paying it back. When you allow people to state their income without any verification and require no money down bad things are bound to happen. And they are happening in a big way. If this doesn’t result in regulation with regard to lending, nothing will. It is long overdue.

Where the market finds a bid no one knows; especially not the talking heads on television. My inclination is that this stops at Dow 10,500 which would be about a 50% retracement of the bull market move from March 2003 to October 2007.

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