Bears Bears Run Away...My Little Bernanke (Sorry Yellen) Wants to Play...

” The noble title of "dissident" must be earned rather than claimed; it connotes sacrifice and risk rather than mere disagreement.”

Christopher Hitchens, Polemicist (Marketed by O Ashuji....)

Its time to run....when the most intense bears turn bulls (after several years of up move)

O Ashuji...

Markets advance over last few months (barring recent correction) have made most notable bears into bulls. (Hugh Hendry of Electica, Paul Farell of Marketwatch, Nouriel Roubini of RGE Monitor,etc). Joining them NOW is extreme bear Charles Nenner. Charles Nenner is Executive Director at Charles Nenner Research Centre. He is well known technical and market cycle analyst. He has been extremely bearish with only competition from Robert Prechter. Almost every year since 2010 he has called for market tops and finally in 2014 he sees market going higher by 10%. Such is the nature of price that it makes you do things that you otherwise wouldn't do. Below is time line of his calls since 2010 and last being on 1st Feb 2014.  

2 Feb 2010 - Interview with Forbes (excerpts)

Technical Analyst to the Stars Charles Nenner Calls Market Top

"At the Friday close, technical analyst to the hedge fund stars, Charles Nenner, put out his long awaited sell signal on the S&P 500, with the market’s definitive break of the crucial 1,125 support level. From here you sell into the rallies."

"Farther out, Nenner sees a new major bear market beginning in 2013 that will take both stocks and bonds to new lows."

(Link - http://www.forbes.com/sites/streettalk/2010/02/09/technical-analyst-to-the-stars-charles-nenner-calls-market-top/)

March 2011 Interview 

Nenner still thinks deflationary pressures will lower the Dow to 5,000 - along with a major war by end of 2012 into 2013.

(Link to the video - http://www.youtube.com/watch?v=7vcTm4XE4EA)

March 2012 Interview with Forbes

An Interview With Technical Analyst Charles Nenner (Forbes)...Excerpts

Navin: You’re on record as setting 1449 on the S&P 500 Futures as a target price from which a significant sell-off may begin. You’ve mentioned that the second quarter of 2012 year may be the time frame. Is that correct?

Nenner: Yes, John. The cycle work points to April 19th as the target date for a peak in stock prices.

Navin: What sectors do you expect to be the weakest after your April cycle date high?

Nenner: I expect it’ll be like last year, 2011. The economy seemed strong at the beginning of the year, and then became weak. Incidentally, my economic indicator cycles predicted that as well. We should see the same type of progression this year. The materials sector, in particular, seems weak. The financials are okay, and will basically trade with the market. I would expect that the technology stocks will neither outperform nor underperform.

Navin: The readership of Forbes is largely oriented toward fundamental analysis. What would you say that could persuade them that the study of price patterns is useful?

Nenner: Well, first, let me say that people think too much in terms of price and not enough in time. Cycles are about time. What has occurred in the past in a recurring pattern can be projected into the future. That’s the nature of cycles – which comes from the Greek word for circle. In 2007, we saw a crash coming and mentioned it to our clients, and we published economic indicators at the end of 2008, showing that a low would be reached in March of 2009. This shows that cycles and technical analysis works. I disagree with fundamentalists when they say things are not based on the past. I use a joke to explain this. When the first Dodge vans rolled out of the plant, I was standing with someone who commented to his friend, a Wall Street executive, that he saw a new type of car coming. His friend said to him, “you are a fundamental analyst”. I pulled out a yellow pad, and starting noticing that the vans came out every hour in different colors, and starting charting them. The friend said to me:”you are a technical analyst!”

By the way, I do not call it technical analysis, I call it visualizing.

Navin: Anything else?

Nenner: Yes, this type of cycle analysis also works extremely well for months-in-advance kinds of decisions, in addition to analyses for the next 3 or 4 days, or weeks. My work is used by big institutions, family offices, hedge funds, traders, and brokers all over the world. We don’t manage money, nor are we brokers – so we can give what we can consider to be honest, scientific, unbiased advice.(If money is on line....humility can come naturally not otherwise) So-called “fundamentals” have nothing to do with it. In fact, we consider cycles to be quite fundamental in the truest sense of the word, since they work across all data series – stocks, bonds, commodities, currencies, and economic indicators.

(Link - http://www.forbes.com/sites/johnnavin/2012/03/25/an-interview-with-technical-analyst-charles-nenner/)

August 2013 Interview with Moneynews....

Charles Nenner to Moneynews: US Headed for Recession and It's 'Going to Be Bad'

"We had a target of 1,720 on the S&P, so once we were [at] about 1,700 we sold all the stocks," he said. "The sentiment [is] too extreme. The market is very risky, so we don't go in anymore. We've been out now for the last three, four months and we're just standing aside."

(Link - http://www.moneynews.com/StreetTalk/charles-nenner-recession-economy-united-states/2013/08/19/id/521167)

Feb 2014 Interview with Financial Sense Newshour (www.financialsense.com)

Technician Charles Nenner: This Is Not a Major Correction

"Charles sees some risk to the markets into early February, but does not believe this is the start of a major correction. He believes the stock market should do well in the first half of 2014. Charles also doesn’t see the stock market as overvalued at the moment, but it would be if it rises another 10%."

(Link - http://www.financialsense.com/financial-sense-newshour/charles-nenner/this-not-major-correction) 

Market volatility always increases, when opinions and views are loaded. As we enter 2014, views are increasingly getting loaded. Direction apart, market moves will be large.