KWN - Stocks to Crater 27%, Bonds to Rally & Gold to Remain Firm

Today a top analyst at Citibank told King World News that global stock markets are set to plunge 27%. Fitzpatrick, a 28 year veteran and top analyst at Citibank, which has $1.3 trillion in assets, also said the panic will move global bond markets to extreme levels, but gold will remain firm. Here is what Fitzpatrick had to say: “Our bias, both in the shorter-term and in the medium-term is we will have more losses on the S&P. The setup is very similar to what we saw when we came off the peak last year. We formed a similar type of head and shoulders pattern and the initial down-move (at that time) took us to the 200 day moving average.” more... http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/5/10_Stocks_to_Crater_27,_Bonds_to_Rally_%26_Gold_to_Remain_Firm.html