goto www.thegartmanletter.com and listen to what this man says on the video of a talk he gave not long ago.
he is going short the USA index
He has only been short twice before, you guessed it in 2000 and Aug 1987!
His view is big increase in margin lending with insiders selling is a precursor to a big drop
also bearish on oil and copper which would weaken BHP enough to encourage shorts and burn off margin longs in the stock.
the nasty correction comes from a combination of things , but the fuel is those on margin who short term can hammer good stocks as the margin call comes in
I know punters on margin who haven't a clue! they don't even have stop losses, just wild reckless bets
seen it all before
Not to say the market won't rally again, but it sure could drop 10 to 15% in afew days
a must read on us market a fall is near, page-17
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