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Strategies & Market Trends : News Links and Chart Links

SPXL 212.36

-3.3%

Nov 6 4:00 PM EST

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To: Les H who wrote (3278)	10/21/2002 12:20:21 AM
From: Chris McConnel	Read Replies (1) of 29592

Yggdrasil blowing bugle on debt implosion: ddc.net M3 dominates this week, and regular readers will know what that means. Many bearish commentators have been arguing over the past two years that the U.S. economy is headed for a depression brought on by a deflationary collapse of the debt balloon. And for the past two years I have been insisting that all the fine talk about a deflationary collapse of debt was dangerous speculation (if your purpose is making money) until M3 actually begins to decline. Well, this week M3 declined. But vastly more important than the absolute decline in M3 are the longer term momentum indicators which clearly indicate that the decline has a 70% chance of continuing and gathering strength in the weeks ahead. In short, we have 70% odds that a debt implosion has actually begun. I believe that the best percentage gains for shorts are still ahead of us.

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