Crains New York Business just had an article about where Wall Street and the stock market are headed in the next few months. They included an interesting quote from Wall Street Astrology Henry Weingarten who heads up the Astrology Fund and is known for his prescient astrologically based predictions for the financial markets.
From the article:
Goldman Sachs strategist Abby Joseph Cohen, proclaimed that her analysis of improving labor markets, spending on business equipment and other indicators led to one inescapable conclusion: The stock market's lengthy slump has ended at last. “We do think that the new bull market has begun,” she said.
Money manager Henry Weingarten vigorously disagrees. He examines the same economic data as Ms. Cohen, and then looks further afield — much, much further. His conclusion: Saturn will be in opposition to Uranus on Sept. 15, an unusual alignment of the planets that not only happens to coincide with the anniversary of Lehman Brothers' bankruptcy but also bodes ill for stock market conditions back on Earth.
“Saturn signifies a drop, and Uranus a sudden drop, so I'm concerned,” said Mr. Weingarten, director of the Astrologers Fund in New York. After the two planets were last in opposition on Nov. 4, he said, the Dow Jones industrial average plunged 22% in a bit more than two weeks. While he conceded that studying the movements of planets, stars and other celestial bodies isn't a foolproof way to figure out the stock market, he insisted that astrological analysis works “80%-plus of the time.”
Since September is right here, we can keep our eyes on the market and see if Saturn and Uranus upend the recent gains. While I hope that astrology can be predictive, in this case I hope Henry is wrong. Let's see....