Prudent Bear’s David Tice sees S&P hitting 400 within the year.
12 May 2009 3: 51 pm | Filed under: Shorts, crash, short selling, social moodTice has prepared for this bust his whole career and has been cool as a cucumber since it started. He’s an E-waver and thinks we’re on the verge of the big C-wave that destroys all hope.
It is worth noting that the S&P500 Daily Sentiment Index reached 85% recently, and this more than any other signal says to me that we have topped for now. The question now is what happens if and when we drop 50-100 S&P points: do we bounce up to a new high, bounce around a range for several weeks, or keep on going right through 666?
One could probably do worse than taking a position in BEARX right now or scaling in over the next few months.
- Tags: bear market bounce, BEARX, C wave, crash, David Tice, Prudent Bear
-
(3 votes, average: 5 out of 5)
Loading ...
5 Responses to “Prudent Bear’s David Tice sees S&P hitting 400 within the year.”
Leave a reply
Most Viewed Posts
- Treasury-only money market funds - 8,514 views
- 90 day T-bill rate drops to 0.23%. What’s next, negative yields? - 7,284 views
- The next bubble: cash. - 7,078 views
- Inverse ETFs vs. LEAPS puts - 6,729 views
- Why bailouts will not stop the depression - 5,277 views
- Commodities bubble bursting - 4,287 views
- Listen to the people who predicted this: No bailouts, no New Deal, no serfdom. - 4,217 views
- About - 4,205 views
- On Black Thursday, 1929, the Dow closed down 2%. - 4,012 views
- Jim Rogers quote: - 3,778 views
Recent Posts
- Mar 11, 2010 - Bonds
- Mar 10, 2010 - Credit default swaps are harmless to all but those who sell them.
- Mar 9, 2010 - The world’s most transparently cynical website.
- Mar 8, 2010 - Loaded for bear
- Mar 7, 2010 - Sarkozy: Greek bailout will be good for the Euro
- Mar 7, 2010 - A long-term glance at modern bubbles.
- Mar 5, 2010 - 2007 all over again
- Mar 5, 2010 - SPX 1131: Quite a line
- Mar 5, 2010 - Strikes and nonsense from Greek unions.
- Mar 5, 2010 - Who could ask for a nicer short than REITs?
- Mar 5, 2010 - Germans want Greeks to sell their islands!
- Mar 5, 2010 - In America’s Ponzi economy, the financials lead the way.
- Mar 4, 2010 - VIX cycles
- Mar 4, 2010 - I’m with Hendry
- Mar 4, 2010 - Some morning tunes
Recent Comments:
- The world’s most transparently cynical website. - Graphite: There’s the same kind of arrogance coming...
- Loaded for bear - tyler durden: very good blog. would you be interested in becoming a ZH contributor? we have about...
- A long-term glance at modern bubbles. - Graphite: BTW Charles MacKay’s Extraordinary Popular Delusions and the...
- A long-term glance at modern bubbles. - Mike: Yes, of course (this was written under heavy jetlag) I meant Dow 600,...
- Sarkozy: Greek bailout will be good for the Euro - Graphite: The amazing thing to me is that, so far, governments...
- A long-term glance at modern bubbles. - Graphite: Surely you mean Dow 600, gold $800?
Personally I like Dow 300,... - 2007 all over again - Independent: With nothing real negative on the horizon, this top could continue to form for...
- 2007 all over again - PEJ: i agree with the new high theory, while Robert Prechter mentions he thinks we won’t...
- SPX 1131: Quite a line - PEJ: alright, stop loss hit… will try again soon…
- In America’s Ponzi economy, the financials lead the way. - Mike: You need a good broker for getting borrows,...
zs73
May 13th, 2009 at 5:02 pm
I saw that interview. I’ve been following him too. I have the same concerns that you address. The Elliot wave newsletter says we are still on wave 2 and it can reach higher. If I were to guess it will probably pull back to about 7800 and top off at 10,000 in fall, and then armaggedon. Of course this is all speculation
hcrosby
May 20th, 2009 at 10:49 am
It feels to me like we are in the “eye of the hurricane.” But for how long?
LEONARD
May 24th, 2009 at 8:34 pm
It is conceivable that the Fed is propping up the market by purchasing spy’s via MS, GS, etc., allowing banks to issue new equity. The whole market is worth less than what the Fed had already committed, so there is enough liquidity. A few well placed tens of billions could do the trick. I write this only to point out that old market rules may no longer apply. Shorting the govnmt is a sure-fire way to get burned. Better make nice and shake hands instead.
Aki_Izayoi
May 25th, 2009 at 1:02 pm
I am Kynikos, and I prefer this name now.
LEONARD, I believe that would be called that “Taxpayer Assurance Equities Facility”
“Prediction two. With public pension systems and tens of millions of 401k holders virtually wiped out—and with the Baby Boomers retiring en masse—there will be tremendous pressure on the government to get into the stock market in order to bid up prices.
Therefore, sometime in 2010, the Federal Reserve will create and loan out hundreds of billions of fresh dollars to the usual well-connected suspects, instructing them to buy up stocks on the public’s behalf. This scheme will have a fancy but meaningless name—something like the “Taxpayer Assurance Equities Facility”. It will have no effect other than to serve as buyer of last resort for capitulating smart-money types who want to get out of stocks entirely.”
http://blog.nationmultimedia.com/print.php?id=9121
(I got deleted on Seeking Alpha)
K T Cat
May 31st, 2009 at 7:43 am
Thanks for posting the Tice interview. I hadn’t seen that one.