WALL, N.J. /New York Netwire/ — Peter Grandich, dubbed the “Wall Street Whiz Kid” on national television for calling the 1987 “Black Monday” market crash, has been making major top and bottom calls for 26 years. Now, Grandich has his bear suit back on, and is calling for a new top.
On November 2 Grandich announced on his blog www.grandich.com: “I’ve been targeting the 11,300 area on the DJIA and Election Day in the U.S. as a point in time when the ‘steroid-craze’ rally meets horrific economic, political and social fundamentals and no amount of ‘QE’ easing can provide enough legs to take this rise much further. My yellow alert is now turning red. The time has come to put the bear suit back on and suggest bearish strategies. Bearish call spreads on major indices and liquidation of most non-metals related equities now appear appropriate in this person’s eyes.”
Read Grandich’s November 2, 2010 Alert “Grandich Returns to the Bearish Camp” at http://www.grandich.com/2010/11/grandich-returns-to-bearish-camp-430pm-est/ .
Despite no high school education or advanced degrees, Grandich has made a career out of stunningly-accurate calls. In addition to calling for the ’87 crash, on the very next day he called for a new, all-time high within two years. Since then, he has made numerous accurate forecasts for the stocks, precious metals, currencies and more.
Just two days from the ultimate top in October 2007, he made his most dire forecast ever calling for readers to sell everything but precious metals-related equities and to short the U.S. stock market. (Read Grandich’s October 14, 2007 Alert “Man Your Battle Stations” at http://www.grandich.com/2007/10/grandich-special-alert-man-your-battle-stations/ ).
In March 2009, just one day before the market actually bottomed, he said he was removing his bear suit and predicted the greatest bear market rally of all-time. (Read Grandich’s March 6, 2009 Alert “Bye, Bye Permabear Camp – It’s Been Great” at http://www.grandich.com/2009/03/special-alert-bye-bye-permabear-camp-its-been-great-1100pm-est/ ).
About Peter Grandich:
Though he never finished high school, Peter Grandich entered Wall Street in the mid-1980s with no formal education or training and within three years was appointed Vice President of Investment Strategy for a leading New York Stock Exchange member firm. He would go on to hold positions as a Market Strategist, portfolio manager for four hedgefunds and a mutual fund that bared his name.
His abilities have resulted in hundreds of media interviews including Good Morning America, Neil Cavuto’s Your World on Fox News, The Kudlow Report on CNBC, Wall Street Journal, Barron’s, Financial Post, Globe and Mail, US News & World Report, New York Times, Business Week, MarketWatch, Business News Network and dozens more.
Grandich is the founder of Grandich.com, Grandich Publications, LLC, and is editor of The Grandich Letter which was first published in 1984. On his internationally-followed blog, he comments daily about the world’s economies and financial markets and posts his views on social and political topics. In his first year, Grandich’s blog had more than one million views. Grandich also provides a variety of services to publicly-held corporations on a compensation basis.
He is the also the founder of Trinity Financial Sports & Entertainment Management Co. (www.TrinityFSEM.com), a firm with a Christian perspective which he started in 2001 with former NY Giant and two-time Super Bowl champion Lee Rouson. Peter Grandich is a member of the National Association of Christian Financial Consultants, and a long-standing member of The New York Society of Security Analysts and The Society of Quantitative Analysts.