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1/24/15

It's now three months since the Doug Casey "Market To Crash NOW" call

On October 21st Casey Research charged its bleating flock $20 for its "Prepare For the 2014 Crash" report, in which we were told (and we quote)...

"Now is the time to take action. Not in the next few months or even in the next few weeks—Right now."
We're now a full quarter (plus a couple of days)  from that call, so let's update on how Doug Casey's prediction is panning out. Unlike the memory-lapsing Casey Research lackey Olivier Garret who tried to lull us into some revisionist bullshit on November 26th, we at IKN are clear about the main calls and trade recos offered by Casey Research in its paid-for panic call in October. The integral parts of the plan were the following:

1) Expect the broad markets to crash
2) Own gold as insurance
3) Go short the regional banks ETF (KRE)
4) Go short on the Dow Trannies ETF (IYT)

Here's the chart of those four, from then until now:



Checking down that list...

1) As regards the main call, the broad markets have not crashed. In fact the S&P500 is up by just under 6%
2) The buying gold as insurance call has seen a marked improvement recently. It's now up 3.5% since the call.
3) Shorting the regional banks ETF (KRE) has also improved, but it's still a losing trade by one percent.
4) Go short on the Dow Trannies ETF (IYT) is still a fully bad call however, as they're up by 7.5%

So, you're improving Duggie, but you're still only one from four here and there's no sign of your fantasy island Ayn Rand crash scenario yet. That's because it was, is and will be a total bullshit call from a charlatan con artist who gets rich by swindling the naive out of their money.