20 Reasons Why a Wall Street Panic May Be Close

  • US Muni bond indices collapsing
  • US State bankruptcy procedures being seriously discussed, indicating bankruptcies are imminent
  • the 7 day SHIBOR (and repo rate) surging to new multi-year highs and has literally exploded from 2.5% to 7.3% in a few short days
  • Baltic Exchange Dry Index (BDI) falling out of cliff
  • The sum of intermediate wave (B) and (C) of primary wave [B] of Dow Jone 30 finishing yesterday at 4,477 moods, well within the range of the critical turning point projected at 4,436 – 4,484 moods based on my mood dynamic theory
  • Several US housing markets making new post bubble lows and the trend appears to be accelerating
  • Rising US, German and French bond yields, while at the same time PIIGS bond yields remain elevated
  • Recent Gallup spending survey shows a collapse in US consumer spending in January 2011
  • Leading Asian stock markets have been rolling over since November
  • Russell 2000 Index lost 3% last week while the Dow gained 1%
  • Many sentiment indicators near or at records
  • Recent speeches by top Fed officials indicate dissent and fear is building
  • Oil and gasoline prices moving into danger zone
  • US Mutual Fund cash levels at record lows
  • NYSE and NASDAQ short interest at post 2007 lows
  • High NYSE margin debt
  • Silver prices starting to lag gold prices
  • CMI implied market price diverging from stock market
  • US traffic volume still well under its 2007 high and not improving much
  • For the first time in history, and possibly for the first time ever, there were no insider purchases of stock last week. That is, insiders sold $163 million worth of stock, but not a one single purchase of stock by an insider.
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