It's panic stations for traders on Wall Street

Major bear markets are now under way, says John C Burford. Traders positioned correctly will reap a massive harvest.

Wow! Did you hear that loud hissing sound yesterday? That was the bursting of the gigantic bubble in global stockmarkets. We are in historic times with major bear markets now under way, make no mistake. And traders positioned correctly will reap a massive harvest.

The Dow (my favourite trading vehicle) was off almost 400 pips yesterday and overnight. It is down another 100 pips or more on the back of Chinese manufacturing data that supports my long-held view that the hard landing for China is already in progress.

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John is is a British-born lapsed PhD physicist, who previously worked for Nasa on the Mars exploration team. He is a former commodity trading advisor with the US Commodities Futures Trading Commission, and worked in a boutique futures house in California in the 1980s.

 

He was a partner in one of the first futures newsletter advisory services, based in Washington DC, specialising in pork bellies and currencies. John is primarily a chart-reading trader, having cut his trading teeth in the days before PCs.

 

As well as his work in the financial world, he has launched, run and sold several 'real' businesses producing 'real' products.