Jeff Clark: We could see a BIG decline soon

Friday, March 05, 2010
By Jeff Clark on the S&A Short Report Direct Line:

... The absolute giddiness of the folks on CNBC may be enough to cause bearish traders to throw in the towel despite the technical indicators that are overwhelmingly signaling an impending correction. That last exchange between Larry Kudlow and Steve Leisman was so sugary I needed an insulin shot.But, we've been here before - most recently in early January. And every time - every single time - the indicators eventually prove correct.There is no volume behind this move, and therefore there is no conviction. When the market turns lower there will be a mad dash for the exits.... The higher it goes, the farther it will fall when the buying is finally exhausted. Look at the lack of volume. This is one of the ten lightest days of the year.