Remember Reinhardt? He's predicting something BIG for March 15...

[wgadget]

Actually, what the DOW experienced since (ahem) MAY 11 was this, from a financial website:


The Dow Jones industrial average closed the week down 306.01, or 3.6 percent, at 8,268.64.



I'm sorry, but I have to give Reinhardt credit for being right...again.

 

[FreeMama]

 

[Paulitician]

I'm the delusional one? lol

Sorry, but I don't consider a 100 point move a swing, considering there have much greater bull and bear moves during this crisis period. Maybe I would have been impressed if the 300 point drop happened on monday alone, but it required an entire week's period.

I don't have to give reinhardt credit for anything. You're the ones who are reading too much into his predictions in any case

 

[devil21]

Like I said, let's see what next week holds before we jump to conclusions. Will you still be singing that song if the market sheds another 300?

 

[Paulitician]

I'll be humming the same tune I always have about this Reinhardt character...

 

[wgadget]

I don't think he ever claimed that there would be a huge drop in one day...It was more that MAY 11 was the high point, as I said before. And if next week continues down, he will have been right.

http://www.enterprisecorruption.com/wp-content/uploads/2009/05/actor01-may-11-16ss.JPG

 

[SevenEyedJeff]

I agree, I think this has to be the start of a longer term downtrend to say Reinhardt is right this time. I don't see enough evidence of it yet.

 

[wgadget]

I agree, I think this has to be the start of a longer term downtrend to say Reinhardt is right this time. I don't see enough evidence of it yet.

So you're thinking it might go back up to where it was, or further?

Personally, I'm thinking the media-inspired KoolAid has worn off.

 

[SevenEyedJeff]

So you're thinking it might go back up to where it was, or further?

You can't really predict short term price movements with 100% accuracy. The PPT could move the market higher from here if they wanted to.

 

[stag15]

If the market makes a new record low (sub 6546), he is right. Everyone needs to be patient. I wasn't expecting anything big, just a trend reversal and so far that is what we got.

BTW, they need to move the market down to keep the dollar and t-bonds from imploding. The dollar hit a near term low on friday while the market hit a near term high. Now the trends are reversing. This will help the big boys get out of their american dollars. This is a long process, not something that is going to happen overnight.

 

[tmosley]

My metric is that if the DOW closes above the highest point from May 11th, then he was wrong. If it kinda goes down, then great. If it goes down to 2800, he's a superhero.

 

[Zippyjuan]

I am still waiting for Dow 2800 by the beginning of April 2009. How long do we have to wait on that one- he has been saying it since November?

 

[tmosley]

I am still waiting for Dow 2800 by the beginning of April 2009. How long do we have to wait on that one- he has been saying it since November?

That's the one he recalled a week before. Presumably, it was put off somehow. Although the market turned on the day of his prediction, the downturn didn't last long at all. I made a lot of money during those two days, though.

 

[Zippyjuan]

Actually he pulled his May 11th prediction about a week or so out- he gave it only a 20% chance of happening and stopped his countdown to it. I can see missing a down day by a few days but missing the Dow by over 50% is not even close. His March date was supposed to begin the swing down to 2800 but instead the market changed directions and went up starting on the 9th.
But yeah, he did start to hedge his March prediction too as the date got closer too.

 

[Mordan]

all this pseudo predicting is for stupid fools.... surely for nut jobs, whack jobs.
that was the problem of Ron Paul's campaign.. too many of these.

 

[idiom]

all this pseudo predicting is for stupid fools.... surely for nut jobs, whack jobs.
that was the problem of Ron Paul's campaign.. too many of these.

Oh yeah! What about the Billionaire huh? Huh!

 

[stag15]

delete

 

[stag15]

My metric is that if the DOW closes above the highest point from May 11th, then he was wrong. If it kinda goes down, then great. If it goes down to 2800, he's a superhero.

If R is right, this one probably won't be 2800 but will make a new low. It will then rally till his next turn date?

 

[tmosley]

If R is right, this one probably won't be 2800 but will make a new low. It will then rally till his next turn date?

How do you figure? I haven't seen any more numbers on his site.

 

[stag15]

The next legatus meeting is october 19th. He had 160 on the top of his site, its now gone.