bears

In early trading today, the S&P 500 has dipped deep into the red, with stocks trading off 2%. The S&P 500 at 1076 is down over 20% since its yearly high as predicted. Next stop for support is 900-950.

Marc Faber told CNBC yesterday that he thinks the S&P500 could fall to as low as 1010 by the end of the ongoing sell-off. Faber also believes gold could fall. However, he believes both markets are oversold and is more keen to buy gold…

The negative headlines are here and the tape bomb shows a failure to confirm the recent W-bottom, which has Andy Lees thinking about where the next stop is.

We’ve posted many times on this blog about how the Hang Seng Index is one of our indicators species for global risk appetite. The index usually leads global markets on the downside and turns up before most.

After posting the Jim Bianco article on getting defensive, I traded e-mails with Jim on recessions and earnings volatility. Here’s what he had to say after I showed him the article

Not the classic trajectory and confirmation, not to mention the compressed time frame, but you’ve got to respect the price action. The macro swans are still out, so the question is are they priced? We don’t know and not willing to make a…

We believe that the market has now entered a major downtrend. It is a mistake to dismiss the slide we've seen to date as mindless and devoid of fundamentals as many strategists maintain. These are not just scary headlines----they are scary…

As usual, I find Felix Zulauf’s commentary very perceptive. He has been right consistently for the whole of 2011 in predicting where things have gone. What he is saying is that the fundamentals in the west are weak and now that growth is…

Comstock Partners present lengthy lbullet points supporting thesis that secular bear market is still intact.

A few weeks ago (July 7th) we wrote a comment entitled "Nothing Matters Until It Does". Now it suddenly does all matter, although all of the problems every one is talking about today have been pretty obvious for some time. These include the…