Yippee! In exactly two weeks, I’ll be canoeing on the lake with my son during our frugal vacation. I must admit that the idea of taking vacation was the main source of motivation for the past few weeks. I am usually not really looking forwards to take my vacation since.
But this time is different, I went through a lot over the past months and I need to settle down and do a complete disconnect. I guess that St-Victor sounds far away to do so!
I attended to a weird conference the other day. It is funny as it was a real professional conference along with funds managers and other spokespersons. But this last guy came with the goofiest assumptions about the market.
In a very professional and technical way, he explained us that the market will start going up around June 2008 for another year. All right, nothing too incredible so far. However, he declared that the economy is going to go down right afterward around June-July 2009. Until then, everything is pretty defendable.
BUT, he kept going and said that the market will crash for three years in a row. 3 years of bear market. This sounds like a depression to me! Most of his theory was based on graphic and technical analysis. So if we see markets going up for 12 months and than flinching in mid 2009, you can take the guess of short selling for 3 years 😉
I don’t know if we could really it such depression. On the other side, everything is possible with the North Americans inability to put money aside for the darker days…
Image source: Flickr.com
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