Grizzly's Growlings Current Report

Market Update Thursday 05/05/2000 5:00 a.m.

"Cinco de Mayo: An Astrological Oddity"

Today is Cinco de Mayo (the 5th of May), falsely celebrated in Mexico and the western U.S. as "Mexican Independence Day." See http://www.vivacincodemayo.org/history.htm for a short history 

This particular Cinco de Mayo is host to a rare planetary alignment, in which Earth's brightest sisters in the solar system are aligned together on the far side of the sun, leaving Earth alone on near side. This once every 6,000 year event is described in detail in Richard W. Noone's apocalyptic best-selling book " 5/5/2000 : Ice : The Ultimate Disaster."  Here's an excerpt:

"On May 5 in the year 2000, the Sun, Mercury, Venus, Mars, Jupiter, and Saturn will be aligned with the Earth and her Moon. On that day the ice buildup at the South Pole will upset the Earth's axis - sending trillions of tons of ice and water sweeping over the surface of our planet. Not since the days of Noah has Humankind been faced with this ultimate catastrophe."

Although there have been significant changes in the Earth's ice cap recently, the dire predictions of a magnetic polar shift have largely been de-bunked as a significant event by mainstream scientists. See http://www.skypub.com/news/special/whypanic.html.

The reason we even mention all this is its cosmic cousin, the great "Harmonic Convergence" of August 17, 1987. (See http://www.earthportals.com/earthportals/
Portal_Messenger/speakout.html for a refresher.) Coincidentally or not, the Dow Jones Industrial Average peaked a few days later, leading to the great Crash of '87.

So is today's astrological event another Harbinger of Doom, or just a lot of hot air? Regardless of what the planets are saying, the Elliott Wave patterns are saying that a devastating "third of a third" wave is just around the corner. The risk of crash next week or in the coming weeks is extraordinarily high. Caveat Emptor!

US STOCKS REMAIN ON FULL CRASH ALERT!

As we post this report early Friday morning, the markets are modestly higher going into the unemployment report and the overnight futures are slightly higher. Lately, the financial markets have been rocked by stronger than expected economic indicators, so we'll just have to see the reaction when the numbers are released an hour before today's opening bell.

Yesterday (April 4th) the techno-world was zapped by the most virulent Internet virus to strike yet, coyly named the "I Love You" virus. See http://cnnfn.com/2000/05/04/technology/loveyou/ or your favorite news service for details. It could have been much worse.

No, Cinco de Mayo 2000 probably won't be much more than another X on the calendar. But whether it's the massive scale of the solar system or the microscopic domain of computer gremlins, such events serve as a reminder that the world as we know it is vulnerable from within and without.

Stay tuned! Whatever happens, it won't be boring!
  

grizzly@bearmarketcentral.com
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