If investors had paid attention to astrological signs, they would have been better prepared for Bloody Monday.
Rebecca Nolan, an astrologer and money manager, predicted in the Sept. 1 edition of the Financial Astrology Newsletter: "It looks like an earthquake hits the market in October hurting overvalued stocks on Oct. 9, 16 and 27." A one-out-of-three success rate isn't bad for astrological predictors. In fact, if she were a baseball player, she would have a Hall of Fame .333 batting average.
Ms. Nolan is the editor of the quarterly newsletter, in which she provides an astrologically-cast prediction of daily price trends over the next three months. Her forecasts cover 30 markets, including major markets, currencies and commodities. The Financial Astrology Newsletter is published by Hong Kong-based Economic Publications Ltd.
Ms. Nolan, a mathematics professor for many years, developed her astrological skills during her academic career. While on sabbatical in Hong Kong in 1990, Ms. Nolan acted as a consultant to several Hong Kong businesses, providing financial astrological skills. She has been a money manager for eight years, with average annual returns of 30% using her astrological financial skills.
As for the future, Ms. Nolan predicts: "All indicators point to at least a 30% drop before the end of the year."
She said she expects the market to move down in stages. "It will drop heavily one day and level off. It will drop again the next day and level off. You will not see new money coming in after each fall taking the market up again as we have seen in the last quarter. This is an important indicator that the market is ready for a plunge."
