from USA Watchdog:
Trader and financial analyst Gregory Mannarino was bullish on the stock market a few weeks ago, but he’s now done a 180. Why the reversal?
Mannarino says, “What the Fed was doing was driving cash from the emerging markets into the U.S. equity market and driving cash into the U.S. bond market, and it worked . . . This is played out now . . . and I told everyone that this would not last. . . . We are right now on the precipice of a correction phase, and it could be severe. . . . The market is moving further and further away from the fundamentals that support it. This cannot go on. We’ve already had no less than six bad rounds of economic news over the past two weeks. This is going to impact, and I think it could be profound.”
You think Mannarino is way out on a limb? Think again. Billionaire investor George Soros is doing the same thing as Mannarino.
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