Ladies and Gents,
I love being right in general and hate it in this case!! Over the past few days(approximately 10-12 days) we here in Shinesroom.com‘s live trading broadcast have called very close to the exact pattern of the markets and its extreme selloff. I was interviewed by the New York Post today and also My phones and email have been ringing off the hook with “SHINE what happens next?”
Here are my quick predictions:
1- The flaws in our system have been revealed to both Wall St and Main st.
2- The markets have the potential to behave worse than 2008 financial crisis.
3- I am waiting to find the opportunity to start to buy only when i see the white of their eyes and if and when it does happen it should come after a large whoosh down and then form a V bottom. The V bottom gets formed when the sell-off is extreme in such a short time period and forces a rubber band effect on the way up too. 4- my prediction is that there is a much needed market intervention of some sort in the NEXT 72 hours. It might come in the form of a QE3 or other FED aid or even as extreme of a ban or partial ban on short selling. If there is a ban on short selling, expect a 400-800 point t rally on the DOW.
The vultures are out in full force again, smelling the blood in the water!!