crash part two, page-93

just got this email:

The Dow Industrials plunged 240 points in the first two hours of trading, Friday, September 7th, 2007. Last night's newsletter pointed out that a small degree wave three down was due after a precise Fibonacci phi .618 retrace on Thursday corrected the previous two days' decline. We suggested a news event would likely trigger the coming sharp decline Friday, and that is in fact what occurred.

On Friday morning, the Labor Department reported that the U.S. economy actually had a contraction in jobs, the first admitted contraction by the government in four years. The amount of the jobs contraction was actually much larger than reported, and we will cover this in this weekend's report. We will also cover our next phi mate turn date, and the coming major turn identified by a massive Fibonacci Cluster date. We will also present Bollinger Band analysis that is simple to understand and useful for identifying key turns and tradable trends in stock market indices, plus the usual key trendfinder and Elliott Wave analysis. Be sure to read this issue, which will be posted Saturday.

With the seventh anniversay of 911 this coming Tuesday, there is the potential for markets to be spooked into a mini-crash between now and next Wednesday. We are in a wave three down now, so it fits.

Best regards,

Robert McHugh, Ph.D.