The other shoe has dropped

As I have been saying for many days I did not want any of my subscribers to take on any new trades. I said that trying to trade in this market was dangerous because of the extreme volatility. I hope you have been following my advice and I kept you from losing money.

Never listen to the professional market talking heads (otherwise known as analysts) listen to the charts! The charts tell the truth, analysts may have their own agenda. And their agenda may not be yours. You should always manage your own investments and never put your faith in what an investment adviser tells you. Study the charts, use them to tell you what is good and what is bad. I will teach you how to use the charts to your advantage and keep you out of trouble.

The charts have been saying we are in trouble. And that is why I have not initiated any trades. Yet advisers on TV and in the press keep saying how good this company or that company is. Yet the stock keeps dropping. This is why I use technical analysis to trade. The charts tell me what is a good stock, what is a bad stock, and when to get in and when to get out.

The news today of lawsuits now starting in the financial circles is not good and will likely propagate even further than it is already known. The charts will tell us when it is safe to get in.