Massive Sell-Off Coming-Market Correction

http://usawatchdog.com/massive-sell-off-coming-buy-gold-gregory-mannarino/

Massive Sell-Off Coming Buy Gold-Gregory Mannarino
By Greg Hunter On February 24, 2014 In Economy, Entertainment, News No Comments
By Greg Hunter’s USAWatchdog.com

Trader and financial analyst Gregory Mannarino was bullish on the stock market a few weeks ago, but he’s now done a 180. Why the reversal? Mannarino says, “What the Fed was doing was driving cash from the emerging markets into the U.S. equity market and driving cash into the U.S. bond market, and it worked . . . This is played out now . . . and I told everyone that this would not last. . . . We are right now on the precipice of a correction phase, and it could be severe. . . . The market is moving further and further away from the fundamentals that support it. This cannot go on. We’ve already had no less than six bad rounds of economic news over the past two weeks. This is going to impact, and I think it could be profound.”

You think Mannarino is way out on a limb? Think again. Billionaire investor George Soros is doing the same thing as Mannarino. Mannarino says, “We are doing the same thing. Apparently, he has added to his short position on the S&P 500 for the third time now. I believe he’s holding a $1.3 billion short against the S&P 500. It’s not just George Soros that is short this market right now. You’ve got Goldman Sachs who is short this market. You’ve got JPMorgan who is short the market. . . . You do not need to be Lloyd Blankfein to see what the charts are trying to tell us. Again, you have a market that is moving away from the fundamentals that support it; and JPMorgan, George Soros and Goldman Sachs are seeing something big on the horizon. . . . We could be weeks away from a major market event, massive sell-off here.”

another snippet:::
What we are witnessing here is a decimation of the middle-class. This is a fleecing that has been set up here, without any doubt. The middle-class, who are relying on these retirement accounts, they are the pawns that are being set up.”