I bet he is wrong again! The market has some room to go up short term. A crash will need 2 things - leverage and exuberance with high PE. We are not there yet. I am sure we will have a crash but probably not this year. We may have a correction probably going into late spring or summer but too premature to predict a crash.

When I was at the World Financial outlook, Campbell's conference, most of the people are negative. But Martin Armstrong and Liebovitz believe that the market may go higher that what a lot of people think.

I do remember Grandich's comments on the L shaped recovery, the CD$ and shorting treasury as a no brainer trade and US$ as a terminal sick patient. He had been wrong all the way. He will be wrong this time with the stock market at least in the next 1-2 months and also the uS$ may rise instead of fall.

The important thing is to follow you own signal. Besides the chart, look at the Treasury and Yen. If Treasury falls, and yen falls, "risk on" returns. The market can even rally to new highs. We will know after Friday's BLS report.

My bet is that last month figures was an aberration. If we get a positive report, we will see a nice rally. You will also see a crash in gold to test 1200.