This is the end of the bull market. Stocks will fall 20% .
Market breadth is waning as evidenced by the lower number of stocks hitting new highs and trading above their 200-day moving averages. Small cap stocks have already corrected over 10 percent and almost half of the Nasdaq is down 20 percent – a bear market already.
Where is this headed? Consolidation is the bare minimum. But, depending on the real economy, it could be worse.
“Any pension plans, endowments, etc., are suffering because they invest for the futures and are finding that their situation has gotten worse,” he says.
Jim Rogers started trading the stock market with $600 in 1968.In 1973 he formed the Quantum Fund with the legendary investor George Soros before retiring, a multi millionaire at the age of 37. Rogers and Soros helped steer the fund to a miraculous 4,200% return over the 10 year span of the fund while the S&P 500 returned just 47%.