Update -- Market TOP Watch

If you recall, I made a call for the stock market top on 10/11/07 within minutes of the top based on a sudden sharp reversal on an innocuous piece of news. These were the highs for Dec futures before the reversal:

NDX: 2214.0; SPX: 1586.5; and Dow: 14270.

I also said that when two or more of the above highs are breached my call would be proven wrong. Until then it would stand. As of Friday抯 close here are the changes in the three indexes from the highs on 10/11/07:

NDX -172
SPX -132
Dow -1223

As a matter of fact, the NDX futures did cross above the 2214 level for 2-3 days, but SPX and Dow never even came close. Most likely, the stock market is finally taking the recession threat seriously. I have already declared that the US economy IS already in a recession. Please remember the following sequence:

Recession --> Commodities Bust --> Deflation --> Depression.

Some time in this sequence we will have China bulls and India bulls, or India goats, to be more precise, slaughtered. India goats have been fattened for the slaughter and for the crooks to feast on.

Jas (November 10, 2007 )

PS: Monday could be ugly.