As equities markets top out and start sloping downward, it is wise to get out of stocks now because in 18 months things are going to look very different.
I’ve been following the wisdom of Anton Kreil for years now, and this former Goldman Sachs trader knows his stuff, whether it be trading or about the truths of the financial industry.
In this video, which is a “Month in the life” of Anton Kreil, he reveals a lot of wisdom about succeeding in life. He talks about a person’s relationship with money, about what type of person you need to be and as well about how the government, educational system and the media are all against you.
This video was from late November 2014. We are now in mid April, 2015. I guess or estimate that the downturn is coming soon…within a month or so. But with this Fed , easy money printed manipulated stock market you never know.
If it breaks resistance at 14800, then it is possible it may go a bit higher towards 15000. However, if it doesn’t then we are looking at a downward move to 14000 and if it crashes through that support then it goes down to next support 13600.
Looking at the weekly chart, the main trend is down, but when it hits a support for instance like 13600 a few weeks back it roared higher…where it is going to go remains to be seen in the next coming weeks.
In addition to the oil price and Toronto Stock Exchange plunging from its high of 15700 points, now with the surprise rate cut by the Bank of Canada, the CAD dollar is taking a hit and along with that the Canadian Bond yields are going down too….Ouch.
The oil plunge will cause significant problems in western Canada, particularly Alberta which is now seeing huge layoffs in the oil fields and that will have ripple effects to be felt within 6 months.