Peter Schiff on second stimulus bill ("We already have too much Govt. Stim")

[Soul Crusher]

[pedro01]

LMAO !

Minimum projection of the head & shoulders top is....

Load of bollocks. Head & Shoulders is a reversal pattern that fails most of the time. Most reversal patterns fail because they are counter to the momentum of the markets.

The reason the market will drop is not some meaningless pattern, rather that it rose on hope and not on better performance of the economy. Those that brought on the way up & made money are nervous and will pull out & take their profits when fear takes over.

Of course - on the other hand, it could be some double-top-triple-bear-flag-channel-reversal signal that moves the market down.

May as well say 'most full moons lead to a 100 point drop'

They guy disgraced himself with this bullshit.

Bottom line is Peter Schiff is a one-track record. Like a stopped clock he'll be right tw

[Bindare_Dundat]

Arent you the same guy that said there is no PPT?

[GigantorX]

I'm convinced that there is a multitude of Marketwatch readers on here.

[pedro01]

Arent you the same guy that said there is no PPT?

errr.... dunno - could you enlighten me ?

Head & Shoulders is a common technical analysis reversal pattern that occurs all the time & most fail. Simple as that.

Peter Schiff does not have crystal bollocks and therefore his price target for the next dip has basically been pulled out of his ass.

I think all the attention has gone to his head. The markets will move down because of fear driven by woeful economic data and the desire to protect profits, not because of some TA pattern.

Think about it - if you were up 15% right now, would you stay the course or get the fuck out of dodge ?

[MM2K]

Im more of a Don Lusken guy than  a Peter Schiff guy, but I obviously agree with him on this. I would be surprised if we test the March lows, but everything else in that video I agree with him on. Its interesting that he mentioned the minimum wage hike that is scheduled to happen in a few weeks. I keep forgeting about that, and that well indeed could aggravate this slump. Unfortunately, the minimum wage is a political loser. There's just too many chumps out there who beleive you can just create money for people making the minimum wage and give them a raise. Anyone who tries to block it will be branded as not caring for the poor.

[Deicide]

He's got a good haircut.