friday range, page-66

The bears are out. McHugh's latest starts thus in bold red italycs:

"OK, be forewarned, a major cataclysmic, earth shattering, once in a century stock market decline is coming starting as early as spring 2009, maybe Aprilish. It will make this past Autumn seem benign. Before that starts, we believe there will be one more rally and the wise will raise cash as that rally occurs"

He sees a low within days, maybe tonight, then a rally for a month or so before the "cataclysmic" etc decline.