Maund is predisposed towards calling the bearish tops on everything. He has a history of predicting extremely bearish scenarios and he never saw a head-and-shoulders formation he did not like. The reason is because everyone remembers the analyst who called the top, but no one really is impressed by people who say 'stay the course and things will work out just fine...' I think he is more interested in trying to gain personal notoriety than any serious market insight.

It was just a couple months ago that Maund issued similar commentary and called for dangerous new lows, only to come out just 2 weeks later and contradict his own analysis. WTF good is any advisor when he recants his own advice after the market has already shown that his projections were flat wrong?

I have made this point several times, but the fact remains the market is manipulated to go wherever the big players want it to go, and therefore technical analysis is a mugg's game. The fools who refuse to acknowledge that simple fact are going to look stupid most of the time.

I am not saying the market can only go higher. Given all of the uncertainty and the flocks of black swans that are sighted daily, who the hell can say how things are going to pan out. I am simply pointing out that reacting to Maund's advice is a sure way to lose money, since he has been wrong more often than right. Go with your gut, find solid companies that are not going to be trapped if the market goes sour, and ride the waves of volatility. This is not a market for the timid.

cheers!

mike