every ingredient in history is lining up for a big one(by mannfm

This about has to be a bear marketthough as every ingredient in history is lining up for a big one. Youcan see the credit squeeze driving the yen up as even the Euro is weakagainst it. The world needs credit and there isn't any.

Thereis one thing about Elliott wave. The moves in the markets don't have tomake sense with the news. Why on Gods green earth would the stockmarkets around the world make new highs when it was pretty clear tothose inside the financials there was a credit crunch going on? Theyall couldn't be so naive to think that the central banks buying thegood assets of the banking system to replace funds draining out of thebanking system would be solution. The final rally was confusing to thepoint that I have to consider it to be a B wave until showndifferently. But, I am beginning to believe it is a wave 5 and we areentering a big bear. There is too much optimism in the markets.Yesterday early on CNBC, I could just tell by the tone in the girlsvoice that the market was up, that the declines were merely a bad dreamand that celebration would start anew.

I think the world ofmodern finance is about to go into the crapper. The idea that the stockmarket could trade at 200% of previous dividend value forever as longas the companies kept buying back stock has been an absurdity. Currentreturns well below risk free just don't make sense because they aregoing to be larger in the future. Wall Street has had a vested interestin this game because they can sell anything, and they make a lot ofmoney when they sell something, in a bull market.