I Called The Pullback!
On April 28th I wrote a blog saying that the market was due for a big pullback due to the market being way too high considering there was high unemployment and high oil prices. I also said I was going to put money into 3X bear etfs until the market pulled back. A lot of people said you can't time the market and you will lose your money in the 3X bear etfs. I was right on both as I called the exact top of the market and made more than 12% in the bear etfs I was in. It doesn't take a genius to figure out that when gas prices go sky high the economy and the market will soon crash. I fully expect that the Dow will keep pulling back until it hits about 12,000. Big Oil is only using 81% of their refining capacity right now which is manipulating prices upwards. Until they decide to actually supply enough gasoline our economy will be stagnant and so will the market.