Not Much Time Left? Build Cash Now!
As I recall Dr. Robert McHugh’s work after the 2008-2009 decline, he told his subscribers to enjoy the (B) wave up because it was going to be a great gift. Use that time to sell stocks and build cash. McHugh always warned people against shorting the markets. But sell into the (B) wave up and get ready for the (C) wave down because it has the potential to not only take out the lows of March 2009, but also, he said, the Dow has a chance to decline into the zero to 1,000 range. That is also consistent with Ian Gordon’s number of 1,000 and Robert Prechter’s number of something in the 400 to 600 range. McHugh believes there are several major head-and-shoulder formations that suggest this kind of decline could be a global phenomenon.