Economy and Stock Market Update (October 30, 2009)

Economic Collapse Update

Note - I mention a rising 50/100 day moving average on VIX. In order for the 100 day to hold it needs to close the following week above 30.03 and the 50 must hold the 25-26 area for the next little while. Many analysists would say that the averages are flat at best, because of the big move on the day of almost 24%. This is big that it gained this much, showing more signs of a potential top on the market. It is a matter of when this happens, which is why going long is best to be cautious in some form.

The S&P 500 is below the rising 50 day moving average and we are now seeing similar signs of 2008. Big losing day Wed, followed with big movements up on Thursday and to lose it all and more the following day.

The fundamentals point to selling, and the technicals are showing it in many forms.

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[shawnaspen25]

Monday, Dow down 800 points!!!!

[endlessmountain]

Thats optimistic (for the bears)

[slobomotion]

This past weekend was a whirlwind of weird activity, including Turkey not dealing with USD or the euro in its dealings with Russia and China. Stock markets sharply down today. A hectic week, and missile attacks in . . . um . . . Lebanon? Syria? Oh, heck, I'm tired. Oh yeah the GDP is up, right? Yay. Parsnips. State of emergency, many bank and brokerage firms in maintenance on Sunday, too weird! Parsnips!!

[endlessmountain]

I am noticing that also. The Philippines keeps getting weather hits every week it seems and more and more is happening.

[kevink040]

Hi Derek, are you still Bullish on Silver?

I havent heard any new info from you lately, just wondering what your long outlook is? thanks.

[endlessmountain]

If I have a $1K Silver poster, which is the final prize I think Silver has before it dies, what does that say?

I am bullish LONG RUN for all assets that are usable and in demand. Silver is one of them for many great reasons of its uses and its supply levels.

[JiveDadson]

Webbot is nonsense.

[iloveterriers]

Good video endlessmountain.

[cultivatelife]

webbot a failure or not, it doesn't matter. Either way, it is dangerous. We already know thru facts and figures what lies ahead. Why do we need a confirmation from a system we do not and cannot wholly understand? Let's stick to what we know and prepare for it. keep it simple and steer clear from the ego building, "I told you so". It does nothing for us. Either you're prepared or not. Thanks for you vids endlessmountain. peace.

[drewd1987]

Ron Paul > Web bot.

[Donaldwar817]

U.S. Mint is not making the 2009 American Eagle gold proof and uncirculated sets because of the demand for gold.

[harveybirdmannequin]

CIT files for bankruptcy today! Nov 1.

Also, people are catching on that unless you have physical gold in your hands, those gold futures contracts, ETF's, and equities in mining companies are worthless.

Has anyone tried to buy physical gold? Have you seen the markups from spot gold prices even though in most countries gold is not taxed? They are realizing that there is only a fraction of physical gold in existence needed to redeem all that PAPER gold. Gold should be over $10,000/oz.

[carmenlee87]

Webbot is still interesting stuff. Im sure there are other programs out there that the military use. They got all these supercomputers

[tesskansas]

I heard that COMEX announced that they would accept gold to cover contracts. Please verify, as I do not recall the source.

[Donaldwar817]

Webbot made a similar prediction for September 19th 2007 and compared the event to sept 11th 2001.. People found little things that happened around that time to make the prediction seem valid just like they are now for the Oct 25th prediction. Wikipedia doesnt list anything significant happening on Sept 19th 2007.

[Donaldwar817]

have we started to narrow down any ideas of the Sept 25th prophecy? i'm still being open minded and giving it another week to play out.