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Has Time Magazine rung a bell for the top?

  • Bearish pundits have their tails in the air thanks to Time's latest cover which features a bull with a party hat and shades on under the headline, "How Wall Street Won."
  • The so-called "magazine cover indicator" has been a favorite of contrarians since print was invented, with Business Week's 1979 "Death of Equities" cover the granddaddy of all bell-ringers.
  • Paul Macrae Montgomery is the best collector and recorder around for these incidents, and he says there's an 80% chance the market will top in a month and be lower a year from now. Don't be swayed by the equivocal nature of the article - which says another crash remains possible - it's the graphic image that's of most importance. He reminds Time signalled the epochal March 2009 bottom with its March 10 "Holding On For Dear Life" cover.
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Comments (9)
  • Big Bad Bulls
    , contributor
    Comments (127) | Send Message
     
    Does being on the cover of Time Magazine even mean anything now? Some of the people and reasons that generated a magazine cover seem pretty ridiculous looking back.
    16 Sep 2013, 09:55 AM Reply Like
  • bbro
    , contributor
    Comments (10148) | Send Message
     
    The Time article was heavily biased......read at your own risk
    16 Sep 2013, 09:56 AM Reply Like
  • dacama1
    , contributor
    Comments (220) | Send Message
     
    I didn't know Time Magazine still existed.
    16 Sep 2013, 10:00 AM Reply Like
  • bbro
    , contributor
    Comments (10148) | Send Message
     
    Ouch...
    16 Sep 2013, 10:26 AM Reply Like
  • Mattster
    , contributor
    Comments (164) | Send Message
     
    Problem is that so many people interpret this as a contrarian indicator now that it can no longer be considered a contrarian indicator.
    16 Sep 2013, 10:31 AM Reply Like
  • Deney_Terrio
    , contributor
    Comments (246) | Send Message
     
    "Problem is that so many people interpret this as a contrarian indicator..."

     

    Not for Joe Sixpack. Time magazine and the rest of the media are just now awakening him from his hibernation. His wounds from 2009 have finally healed and he's ready to jump back in before the train leaves the station. Bon Voyage, Joe!
    16 Sep 2013, 11:30 AM Reply Like
  • Land of Milk and Honey
    , contributor
    Comments (5233) | Send Message
     
    Signalling the bottom is a totally different call then signalling the top.
    16 Sep 2013, 10:31 AM Reply Like
  • Brian Bobbitt
    , contributor
    Comments (1960) | Send Message
     
    Time magazine? Is that a new one? When did they start printing?
    Capt. Brian
    The Lost Navigator
    16 Sep 2013, 10:47 AM Reply Like
  • dnorm1234
    , contributor
    Comments (1126) | Send Message
     
    It looks to me like the Time cover is calling for a crash.

     

    The pseudo-indicator is supposed to be when mainstream is promoting stocks, it's the top. When the mainstream media is calling for a crash, does that mean get in? When has Time magazine been right about anything financial?
    16 Sep 2013, 11:09 AM Reply Like
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