Isn't it truth? Do not the financial people always tell us rubes to stay in for the long haul? Of course. They always want the suckers staying in the game to hold the bag while all the big boys get out in time. - Ed.
Robin's expectations are outlined this way:
"The Chart above is a long term chart that shows that my target for 7400 may be too high. If we get a maximum retracement of 68% then the 5800 range is quite possible. I am confident that one of the targets will be met. The time frame is the most difficult to determine. As always there will be sharp counter trend rallies along the way but keep your eye on the final larger degree target which is much lower than we are today. I have said for several years the idea of buy and hold will cause the greatest pain and loss of confidence in the advisement business that this industry has ever seen once we enter the larger degree correction corresponding to the 1929-1934 decline. We are at that timeframe and many people who rely on their saving in the markets to retire will not be able to retire due to the lack of discipline in the training of advisors toward capital preservation. I believe the next two or three years will prove me right. I hope I am wrong but doubt it. God help us all. As always questions and comments are welcome." rlandry@allegiance.tv
