Moraif: Recession to Bite

“As I have been reporting to you over the last few months, the world’s economy is slipping into recession while the US economy shows signs of strength. It is my view that the global recession will have a detrimental effect on our economy. The question that we are all waiting to get answered is, ‘Will the rest of the world drag us down into recession as well?’

“I believe that we are already seeing the effects of this global recession on our economy, and it is just a matter of time before we are dragged down into a recession and the concomitant bear market. The market is behaving almost exactly as it did back in 2007 and early 2008 after I said to sell. It rose steadily before finally capitulating and falling off. We all know what happened when it started to fall, don’t we?

“The 2008 bear market wiped out 12 years of gains in just 17 months.”

— Excerpt contributed by Philip Robins

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Z-val: Ken Moraif
Via: Money Matters
Date: 10/18/15
Disposition: Medium-Term Bearish
S&P 500 on 10/16/15: 2033
S&P 500 on 4/15/16: 2081
Change: +2.4%
Judgment: Wrong

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