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Sic Semper Tyrannis

Friday, May 12, 2006

But what do the Tarot cards say?

I've always thought Wall Street was a little bit flighty, but this is ridiculous:

Wall Street fall written in the stars

LONDON, May 12 (Reuters) - A financial astrologer warned earlier this week to be on red alert over the Dow Jones industrial average <.DJI> on Friday and recommended investors add to cash, step up short-selling and buy sell options.
That's right folks, an astrologer.

In an uncannily prescient move, Wall Street astrologer Henry Weingarten wrote a note to clients on Monday May 8 saying he believed the market had started its end game.

'We may or may not have already heard the 'high' note! Either way, time is getting very short. What is there to look forward to?' Weingarten said in the note, subtitled 'The Fat Lady Has Started To Sing'.

He added that the combination of a weak labour market, weak dollar and housing bubble were not good news.
Wait for it, now...here it comes...

The astrological outlook may be even more unsettling.

'May 17 is the New York Stock Exchange's birthday. It features Pluto (and Mars) prominently," Weingarten wrote in his note.

"While this is not necessarily 'bad', it does indicate crisis (and more violence) ahead. You tell me if that is bullish or bearish for the market."
Here's the thing: if this guy is a "Wall Street Astrologer," with actual "clients," and he's telling his clients that the market has "started its end game," then what do his clients need him for?

Sounds like the guy is out of business.