Harry S. Dent Market Update Video

Harry S. Dent posted a few days ago a market update video and also announced that his new book, The Great Crash Ahead [which I happen to have pre-ordered!], will be available this September. Although I won't agree with all the points he raised, here they are, raw output:
  • He now believes we have seen the top, back in May, and that the top he thought we'd have in 2012 will not be anything but a dead cat bounce from the lows we will reach in 2011, but won't see a higher top than the 2011 one.
  • They have counted $122 trillion of private debt in the US, that will need to de-leveraged.
  • There is strong support around 1010-1040 on the S&P 500, so there could be a rally at this point, before the next wave down in late September/October. The bounce is a selling opportunity.
  • He advises against piling into treasuries — for the wrong reasons in my opinion.
  • He advises against piling into gold and silver and actually has given a sell signal on silver when it reached $49. They are now looking at giving a second sell signal, on both gold and silver, and forecast that the crash in these two metals are going to crash the most.


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