Sunday, October 05, 2008

The latest from Charles Nenner.

I couldn't find this appearance on Fox, but I've found it on Charles Nenner's site. He's had some very good market calls, including one late last year where he called for a rough 2008, and he's also had some questionable calls, including a call in April of this year that we might have hit the market low for the year. [You can see more detail on his calls as well as a bit on his methodology if you check out the prior posts I have linked above.]

Now he's saying we should see the market low around October 14 or 15th, and then the cycle should turn, and then stocks move up into May 2009. But he does also point out that if we have a break of the current market lows, then things have the potential to head much lower. see Fox News video at the top.

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Blogger Robert Foster said...

As I type this the S&P is at 976, substantially below Nenner's target low of 1169. He says in the interview that if this happens, it will go much lower. "you have a bad situation on your hands. It will go much lower." Not sure if he means that the cycle low in mid October will be out the window also. I understand this guy has an uncanny record of predicting market actions, but his April forecasted low was pretty far off.

8:22 AM  
Blogger mh497 said...

Yeah, it's not clear from this what he is predicting about the timing if that low breaks, as it has.

Three days to go on his prediction, could still be substantial point downside (judging by last week's moves) and yet the timeframe might turn out to correct.

9:28 PM  

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