Why the worst isn't over yet

In a secular bull market, the equity market does not go to a new low in a recession. In a secular bear market, it does. If you pay attention to the historical record, you can see we're still in the jaws of a secular bear market in equities. Trade accordingly.


I see consumer spending sputtering, the housing market turning down sharply, and private payroll growth falling off a cliff.


Gold is in a secular bull market, but that's a very crowded trade right now. It has moved so parabolically that it could correct 10% without violating any trend lines. Long-term, though, I am sticking with my prediction of $3,000 an ounce. To top of page

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"Why the worst isn't over yet"
- Rosenberg warns the bear market isn't over yet - Jun. 11, 2010 (在「Google 網頁註解」中檢視)