Wall Street: 98% Risk of Crash This Year

Earlier this year, a select group of Wall Street Insiders were surveyed, and the results were ominous. These financial experts and fund managers predicted a 98% chance a stock market crash will happen in the next six months.
Gary Shilling, one of Wall Street’s top economists, says the S&P Index could drop as low as 800, a 42% decline.
Jeffrey Gundlach, one of the world’s biggest bond fund managers and CEO of DoubleLine Capital, says the real damage is yet to come and an “ominous third phase” will “far exceed the damage of 2008.”  (more)

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Where Is Gold Going?

Two week ago I first called for patience regarding Gold’s expected Investor Cycle (Investor Cycles run 24 weeks) decline. Since then, Gold has continued to chop sideways in a largely lifeless and apathetic manner. The few price spikes we’ve seen have typically come during thinly traded markets, with little follow-through and prices that close near where they opened.

The current price action is why the Bollinger Bands have constricted so tightly. The trading range has narrowed with each passing day, and volatility is now at an extreme low. The lack of volatility is reflected in the 2nd tightest set of Bollinger Bands since the start of the bull market 14 years ago. Regular readers will know that I place significant predictive value on instances where tight Bollinger Bands occur near expected Cycle pivots.
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Bank of Ireland (NYSE: IRE)

The Governor and Company of the Bank of Ireland provides a range of banking and other financial services to consumer and business banking sectors in Ireland and internationally. The company operates through Retail Ireland, Bank of Ireland Life, Retail UK, and Corporate and Treasury segments. Its deposit products include current accounts, checking and time deposits, and certificates of deposit. The company’s loan products portfolio comprises loans to customers, including overdrafts; installment credit and finance lease receivables; mortgage loans for house purchases; home improvement and secured personal loans; credit cards; property and construction, business, and other services loans; and term loans, project, structured, commercial, and leverage acquired finance, international asset financing, leasing, installment credit, and invoice discounting.
Please take a look at the 1-year chart of IRE (The Governor and Company of the Bank or Ireland) below with my added notations:

IRE rallied nicely to start off the year, but has since then given it all back. Along the way, the stock has found support and resistance areas primarily at the levels of $14, $16, $18, $20 and $22 (blue). Each of those prices has been either support or resistance, or even both, multiple times. The stock is now trading between the $14 and $16 levels.

The Tale of the Tape: IRE is currently trading between $14 and $16. A long trade could be made on a pullback to $14 or on a break above $16. A short trade could be made at $16 or on a break below $14.
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George Soros Tells America To Take Their Money Out of the Banks Before It Is too Late

When George Soros is not donating millions to the North American Man Boy Love Association (NAMBLA), his money  movements have been predictive of an impending economic collapse. This has made him the most watched bankster in the world. If you have any money in a domestic American bank, you would be wise to read this article and act accordingly.

This article is the first of a two part series which is designed to help as many people, as possible, to have as soft of a landing as possible from the devastating effects of an economic collapse that may be right around the corner.

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