Bears all set to return in 2011
By Toby Connor
December 27, 2010
It’s almost impossible to find anyone who is long term bearish on the stock market or economy at this time. In the recent Barron’s poll every single analyst expected a rise in stock prices next year and continued economic expansion.
I think they are all going to be wrong, horribly wrong. I believe next year the stock market will begin the third leg down in the secular bear market. And the global economy will tip over into the next recession that will be much worse than the last one.
I’ve gone over the 3-year cycle in the dollar index many times. The dip down into the next 3-year cycle low this spring should drive the final leg up in gold’s massive C-wave. What I haven’t talked much about is what happens after the dollar bottoms.