A video by Tony Robbins would not normally make the cut on Emini-Watch.com. No question, he’s an expert at changing your mental attitude plus an all-round interesting guy. But he’s not a financial expert – or so I thought.

Turns out Tony Robbins has been working with Paul Tudor Jones (one of the greatest traders of all time) and in this video shows a real familiarity with economics, leverage and Harry Dent’s Age Wave concepts.

If you’ve got any kind of long-term Bearish disposition – as most of Emini-Watch.com’s subscribers do – this video will make perfect sense.

But what’s important is Tony Robbin’s advice. Basically, get off your ass (or arse if you’re in the UK or Australia) and think through how you’re going to protect yourself and then take advantage of what’s happening!

If you’re reading this article via email or RSS reader, then follow this link to view the Tony Robbins video on the website.

Recession or Depression: Tony Robbins Warning (23:57)

Good luck with your Emini trading next week – and start planning ahead!

One chart and a couple of YouTube videos today.

Still waiting for "End of Trend" warning signal on the 45 or 81 minute Emini chart to confirm a bottom. We had Exhaustion Buying and Professionals selling into today's high at 1,169. So I'm expecting weakness tomorrow until the cycle kicks in on the 81 minute Emini chart.

Still Waiting for "End of Trend" Warning Signal (Emini 81 minute)

Here's the latest Harry S. Dent video. His view is one more rally into June/July and then "bombs away".

Harry S. Dent 11 May 2010 (9:15)

And here's Bob Janjuah, Strategist with Royal Bank of Scotland, on Bloomberg. Euro to parity, bonds eventually collapsing, S&P fair value 850, etc.

Bob Janjuah 11 May 2010 (10:51)

I'm off to buy canned goods and more ammo. Good luck with your Emini trading.

From Tom W.    "I have been trying to stop drinking … but these videos were too much!!! Add it to the oil spill … and I need my meds again!"

From Ralph R.    "I Googled ‘dow 40,000 dent’ and I am looking at Dent's prediction in 2004 of the ‘new millionaire economy’. He predicted Dow 40,000 in 2009. In the late 90s, he had a book called ‘The Great Boom Ahead’. He is a reincarnate of Joe Granville and will say whatever sells! You have one of the best sites on the web. Please think twice about using this man as a reference."

Something a little different today. I was riveted by the Goldman Sachs questioning on Tuesday in Washington. Here are my (random) thoughts – not for any particular reason but just because everyone else has had a go. So, evil villains?

If you're reading this article via email or RSS reader, then follow this link to view the Goldman Sachs SmackDown video on the website.

Goldman Sachs (GS) SmackDown (7:45)

And Some Comments on the Goldman Sachs Case

From Bill Ackman, Managing Partner of Pershing Square Capital Management, commenting on the SEC's case against Goldman Sachs on CNBC:

"The Rating Agencies played a major role in this – if the Rating Agencies didn't exist, this trade would not have taken place."

And

"The Basel Accords … meaningfully increased the demand for AAA assets … and the Rating Agencies, by putting inappropriately high ratings – AAA ratings – on this stuff, enabled the Investment Banks to manufacture product that could be purchased by these Institutions."

Good luck with your Emini trading this week.

This has been a difficult introduction to write.

Emini-Watch is still about Emini Trading

Emini-Watch is, and always will be, about Emini Trading. My trading always suffers when I have an "opinion" about what should happen. In fact, some of my best trades happen when they feel wrong and go against my "gut".

The goal should always be unbiased interpretation of my indicators and following good setups and signals regardless of their direction.

That being said, I believe that important issues (that ultimately drive our markets) are being ignored:

• Too much leverage is allowed and too much debt has been accumulated
• Our political systems (particularly in the US) have been captured by Corporations
• Regulators are under-funded, under-skilled and allowing crimes to go unpunished
• Investigative journalism is dead and main stream media has been dumbed down
• Corporate financial statements and Government statistics are massaged, and
• There are huge vested interests in promoting the system & not "rocking the boat"

So, occasionally I'm going to post thought-provoking analysis that is not being picked up in the main stream media and deserves wider coverage. I'm going to do my small part in drawing attention to these issues and not "stand idly by".

William K. Black interview

William K. Black (or Bill Black) knows what he's talking about. He was Director of Litigation for the Federal Home Loan Bank Board (later re-named Office of Thrift Supervision) during the Savings and Loan crisis. He's seen fraud by bank executives up close and estimates the current banking crisis is 30 times larger than that debacle.

The best quote is in Part 3 around the 4:30 mark:

"There are so many shoes yet to fall – it's going to be like being in Imelda Marcos's closet during an earthquake."

A sane voice in the middle of all this madness.

William K. Black Interview – Part 1 (11:11)

William K. Black Interview – Part 2 (8:58)

William K. Black Interview – Part 3 (8:10)

William K. Black Interview – Part 4 (9:59)

William K. Black Interview – Part 5 (5:40)

Finally in Part 5 around the 4:30 mark:

"If the greatest economic catastrophe in 80 years; if an epidemic of fraud by your top elites; if the corruption of your most senior professionals in accounting, law, appraisal and rating agencies isn't enough to make you fundamentally reconsider and say 'we are headed along a disastrous path' – what will it take? Because the next big one will be even worse."

And "bravo" to Paul Jay and the Real News Network. They consistently bring out thoughtful analysis and great alternative media content.