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Ex-Goldman Sachs Analyst: “Major War” Coming End Of 2012
Massive conflict will prompt stock market collapse, predicts cycle strategist Nenner
When cycle forecaster Charles Nenner told the Fox Business network yesterday that the Dow Jones was set to collapse to the 5,000 level on the back of a “major war” that will shake the globe at the end of 2012, hosts David Asman and Elizabeth MacDonald sat in stunned silence.
Nenner, a former technical analyst for Goldman Sachs, is head of the Charles Nanner Research Center, which purports to be able to predict market trends with a computer program based around pattern forecasting and securities analysis. Nenner predicted the stock market and housing collapse over two years before the fall of Lehman Brothers.
Nenner predicts that the Dow is heading down to just 5,000, a gargantuan drop given that it now hovers above the 12,000 level and only sunk as deep as 6,547 during the lowest ebb of the economic collapse in March 2009.
On the back of this forecast, Nenner has advised his clients to vacate the market almost entirely.
“I told my clients and pension funds and big firms and hedge funds to almost go out of the market, almost totally out of the market,” said Nenner, saying that the collapse will unfold over the course of a couple of months and that the reversal will come when the Dow hits just above the 13000 level.
This story has no basis other than it was posted at glp ! Fox Business is not displaying it nor is any other website ! Where is the LINK to a reputable source ?
Seems to be more fearmongering BS.
Another reporter with no idea ! Seems to be that the majority of stories on this site are suspect, getting harder to find a little nugget !