The Great Depression

  • Benjamin Roth: The Great Depression: A Diary

    Benjamin Roth: The Great Depression: A Diary
    It's all here, times change people don't -the endless govt programs that fail to stimulate the private sector -the ups and downs of the economy, the veterans pension stimulates just as the housing credit did, until of course the money runs out -Roth is a attorney in Youngstown Ohio who kept a diary regarding the economy from 1930 until WW II breaks out, he is objective, candid, and forthright which is more than we get from Washington DC now or then highly recommended

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September 06, 2011


John Burke

Okay, I'm confused. So higher prices are coming or the top is in?

Dennis Elam

The top in the market is in, recorded in May and July.
But this is what confounds most investors, the time frames move at different speeds. By the time a monthly sell signal occurs, the daily chart has likely bottomed and is ready for a bit of relief rally. The focus of tv cable news is of course the short term moves which keeps most viewers off balance.
The action so far today is much like Oct 1987. That Friday the markets were down and then monday opened much lower. The markets recovered until noon, then the fools running the NASD and NYSE remarked that they might close the markets for trading. Everyone ran for the door and the market dropped 500 on the day. I don't think they will do that today but we are setting up for an extreme oversold short term low.

What time frame are you asking about, that is the reason I posted the monthly weekly daily this morning. I would guess we have a big down day today followed by some sort of rebound this week but the day is still early.

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