Robert Prechter of Elliott Wave on CNBC's Closing Bell, Aug 17, 2009

[Condorsat10]

Me thinks that a simple 50 day moving average ...enter S&P 500 on 18 Mar 2009 and exit when the 20 day moving average cross's the 50 on 2 Feb 2010 would have kicked Elliot Wave theory's ass!!! Put that in your pipe and smoke it ...Bob

[btaylor9661]

Pretty good hidsight observation, did you do it? I am a rookie and am still trying to take advantage of the profit. I do think though from what I have learned though you are pretty darn right but I think this Elliott Wave has some validity too.

[bjbpablo2]

well he couldnt have been more wrong about the $ the equities market and commodities as a whole....

[Nuanceqwest]

After mind-blowing Q3 earnings and GDP numbers, if the market falls, I'll believe that this elliotwave theory is not crack.

[prayfortruejustice]

This was in August. I guess his prediction was a FAIL.

Hard to read a market with so much FED Fraud and zero interest rate sugar to spike up the market.

END THE FED

Senate S.604

House HR1207

[financialclips]

Be patient.

Two years ago, Prechter said the market was topping and would have a large decline.

This was when the Dow was at about 14,000.

It took 2 or 3 months before the market started heading down, and eventually fell to 6500.

Be patient.

Watch the videos of Art Cashin also.

He notes there are more stocks declining than advancing, which often signals a top.

[prayfortruejustice]

Thanks for the reply.

I believe the market will top out... I just can't buy the rise in the dollar for a prolonged period and that commodities will tank. Energy to go up with increased global demand.

FED is driving the dollar down - bought 133B of Reserve SDRs in Aug (not a whole lot, but...) Google: " Why Did U.S. SDR Holdings Increase Five Fold In The Last Week Of August?"

Devalue dollar to get out from under the debt? G20 continues talk about removing dollar as reserve and for oil trade.

[trublu97]

@financialclips

yeah be patient. Prechter wrote Conq the Crash right at the bottom of the market in 2002, called for commodity collapse, housing collapse ect, etc... only 6 years early and 1000% off. Note: the massive correction still has commodities 100's% higher and houses are about flat.

Stick that in your elliot wave.

[itskaikai]

Pretcher nailed the 666 rally by telling people to cover their shorts on 3/6/09 just a week before it happened.

I trust his analysis on the USD & the inevitable W shaped fall in the stock market later this year.

[frank299]

He suggested covering shorts to take profits. He did not turn bullish and did not recommend to buy stock. Prechter did suggest to own equity in this historic rally.

Typical media bs glorification to improve ratings.

[frank299]

correction - Prechter did NOT suggest to own equity in this historic rally.

[mwng3000hotmail]

i am a subscriber to his service. using his analysis, any subscriber knows what should be done as a trader (not investor).

[BringBackCapitalism]

The Best Individual Stocks under our current system: The Largest Companies with the Biggest Losses. Look at AIG and BofA share prices. I would like to invest in a company with growth and earnings, but based on the market, it's better to invest in companies with the Largest Failures. The Market Doesn't Lie, but is this Capitalism?

[strongbadassman]

Another moron from the school of failed economics, making predictions off of reading data from stat sheets, when will people learn that stat sheet data on the stockmarket doesnt even exist 80 years ago? Economy is tie to the very basic needs, natural resources, production, and we have this moron, and that goes with the rest of our Fed including the biggest tool of all Ben Benanke <--disciple of chief failed economics proponent Alan Greenspan, shoving the same misinformation down our throats.

[DoctorMurky]

What does Prechter have to do with Bernanke and Greenspan? He was a harsh critic of both of them for over a decade. How is he a moron when he predicted the depression five years before it happened? If Prechter is a moron, we should all aspire to be morons.

[mwng3000hotmail]

i am a subscriber to his service. he doesn't use economics. he uses wave analysis and social sentiment. in fact, he bashes economists.

[lynnybee888]

yea, people do deserve to know the truth ............ and, they are NOT going to get it on CNBC !!!

[Ntone606]

Nice that Maria is in commodities. Probably wise to get out now if we're facing deflation.

[frank299]

Media lies - typical of CNBC to attract viewers.

Prechter did not turn bullish in March. He turned neutral. He did not suggest to buy stocks and to be long in this 50% rally.

[ednan9]

He has an intellectual analysis of the market that sometimes makes sense and sometimes he is wrong- how can anybody predict market....your whole arguement is wierd

[frank299]

Just pointing out how CNBC lies and glorifies to attract viewers. People deserve to know the truth.