The Last Time I Saw This Chart, It Was 2007
I recall the presentation vividly.
It was November 2007 and I was standing in front of a packed room at a really swank resort along the Mexican Riviera. Money Map Press was in its infancy, and I was making my first public appearance as its chief investment strategist.
The markets were rocketing higher, the money was easy, and investors were greedy.
Until I got on stage.
I dropped a financial bomb of epic proportions by telling my audience two things: 1) the rally they were counting on was about to come screeching to a halt; and, 2) they’d best shift their attention to harvesting profits.
You could have heard a pin drop.
I made my case as simply as I knew how… a “compressed range since 2005 shows [the] market ready to snap just like [it did] in early 2000.”
Then, I threw the following chart up on the projector, knowing full well that a picture is worth a thousand words… or at least a few million dollars in the hands of savvy folks.
Pay particular attention to the yellow circle.
My analysis suggested that the S&P 500 would fall to 1,329.26 by March 1, 2008, before making a brief stand and collapsing further.
It was tough stuff made doubly so because conventional Wall Street analysts would have sugarcoated the news… that is, if they had even seen it coming in the first place. Most, as you know, did not, which is why the financial carnage that followed was so very painful for many.
In my capacity as chief investment strategist, though, I had no choice but to tell investors three things, even if they were unexpected and uncomfortable: 1) exactly what my analysis showed, 2) why it was happening, and most importantly, 3) how to profit from a market collapse that I believed was going to catch millions of unsuspecting investors by surprise.
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