Arch is forecasting a drop on the S&P to 950 before hitting lower.
More interestingly, there were talks about hyper-inflation, and discussions about how silver was a great investment. This was just a few days before the silver crash of this week. It's amazing to me how well respected people can be so wrong.
I can't wait to hear the interviews of conspiracy theories on King World News now!
Link to MP3 file. The interview starts at 31"30 and finishes at about 43"40.
Interestingly, after Arch Crawford comes Louis Navellier, which I hadn't heard before. He believes that the world economy is growing nicely and that the markets will see a massive rally in the year end.
This confirms my previous posts about too much complacency, and not enough fear, as of last week-end. Let's see how things pan out after this weeks massive drop. Will we see fear and doubt? Or still 100% invested speculators seeing buying opportunities?