I think he is about debunked. I bought his book, I could have bought gold when it was $900, but I didn't. Now it is $1700 from a local dealer. Prechter says he thinks Gold will drop 40%? Do the math and that is only $680, which means gold would be worth 1,020. $120 higher then it was back in 08'. So gold would have to drop far more than 40%, and I can't see that happening in today's turmoil.
prechter is awesome! NOONE is right ALL THE TIME! he might have been wrong since july but i wonder how many advisors/ timers were wrong in1987, 2000 and 2008! i hope all you haters dump your life savings in stocks, it will give me and prechter followers a better place to short from!!! haha DEFLATION BITCHES!!
LOOK, Robert Prechter and Elliott Wave International is the worlds foremost proponents of the Elliott Wave Principal and they excel at that. But going back to June of 2010 they've been extremely wrong. Might as well get investment or trading advice from a carnival clown.
Someone asked me about his blue book. It's called "The Elliott Wave Principle". You guys who are complaining about Prechter need to realize trading and analyzing the market aren't the same thing. Short selling, which I know all of you have done, requires a different sort of risk control and VERY good timing unlike going long. I recommend long or out for most. Be an optimist but not a sucker. The market CAN go down very far. Study William J O'Neil and Victor Sperandeo to learn trading.
I'd like to punch this guy in the face. Market expert my ass. He's been bearish for the last 30 years and his face pops up in the media only when the stock market goes down and he'll say I was right all along. Fucking douche.
Does any body pay this guy?? Hes been dead off all the way! 2007 says gold and silver would crash! 2009 that the dow would crash! his still barries on gold and silver !!
Also, the FED has been actively monetizing the stock market forcing the SPX to go UP for the year despite an August Hindenburg Omen, sufficent distribution for a decline and hitting the 200 DMA resistance and 2000:1 insider selling to buying. All that Bennie funny money is pushing these geezer's retirements into the stratosphere against all technicals! Bob thought this couldn't happen, too bad pal! Shorts got creamed and the VIX is in the toilet! Don't fight the Fed!
Prechter last recommended silver in 1973! LMAO! I've made bank in PM stocks. Watch Bob call THE TOP in gold back on tax day of 2008: watch?v=9KbMFlSDGmw
Peter Schiff debated him this week on schiffradio (.) com, very good listen!
Still dead wrong! What a joke of a little man. I listened to Marc Faber and Peter Schiff last year and doing good! Man, I would have been creamed if I listened to Prechter.
Yep, sell all your gold, stocks, convert it all into US dollars, the Fed keeps pumping out trillions more but we don't care, Bob's voodoo economic theory will save me, won't it Bob? Bob? where did you go?
This man is a sham folks. Peter Schiff is kicking Bob's arse right now
this guy has a horrible track record according to Hulbert financial digest of investment reports. He would have lost you money over the past 20 years. Not sure why he has such a wide following.
They run a very good ponzi scheme. You need to buy more and more services all
the time. Yes, he may be right. But when it happens is not what he can tell you. Believe me, you will know when it happens. In February he made his worse call ever. He said go short and double down short. Hmmm Guess what, 150 S&P up points came next. Nice Job. It only proves that his wave counts are historical data, Not a forecast. His Feb. forecast and short term updates made bad calls for the next three months.
@rockerme4u where? I thought I remember him saying to cover shorts and to get long in Feb 09 near bottom.
He said stocks overpriced in the late 90s. said dow/gold would go to 1. He was right, p/e were superhigh p/book were super high dividend yield was amazingly low but you couldn't do much with that information because it continued until 2000.
This guy has great information, but waves are best used as behavioral understanding rather than using them as an actionable forecasting tool
Bearishness is rampant with guys like Prechter and many others preaching doom and gloom. The average investor is terrified of his own shadow and lots of money is on the sidelines because of it. Yes, we have been seeing some deflationary forces, but "Helicopter Ben" is only going to let it go so far before he cranks up the machine. As a contrary play I think it's a good time go go long if you've got the guts and the ability to stay nimble.
The trick is to keep saying the market will collapse and eventually he will be right. Of course market moves in cycles. There is absolutely no value in this kind of forecast.
This guy has been saying since mid 2009 that the market will go below mar 09 low. Even with the recent correction we are far from it. I just don't understand why would anyone still believe in him. He is a complete scam.
I just watch this video posted on jan 22nd...he is right on the US dollar, the beginning of what looks like the stocks depreciation and back in jan....he mentioned about dubai, spain and "GREECE"..depending on how you translate it...he's quite the right guy when it comes to warning signals about potential Euro fallout. 2 thumbs up for me for Bob!
What did 'SergLLLL' say 3mo. ago ---- lmao -- Has anyone even looked at what happened a year or two before the crash in the 30's? Many market analysts said the market was going to continue to climb and no more bottom for the future.... Sure enough the market crashed. Today is 5/20/10 -- what did Prechter say to do -- put your $ some place safe because a new bottom is coming. Tomorrow is Fri. put your $ in a safe place.....
He said Long on the VIX 2010, which would have and made him dead right on the direction of this market, and even if he just said cover shorts in March 2009 that means he covered on the bottom, so even if he didn't go long after March 2009, he made money and didn't give it all back like the other bears.
He said Long on the VIX 2010, which would have and made him dead right on the direction of this market, and even if he just said cover shorts in March 2009 that means he covered on the bottom, so even if he didn't go long after March 2009, he made money and didn't give it all back like the other bears.
one has to laugh at those calling Prechter a liar fool or what ever.......
why do they single him out and not the 90 percent of perma bull analists who missed the meltdown. at the crap tables gamblers hate those who place "dont pass line bets"Its almost un patriotic.
yet the odds favor crapping out.
so leave your money on the table...never walk away as long as you have a single chip left to play with.
Prechter has been wrong, wrong, wrong for way too long!!! He has been talking about deflation for the past ten years and emphatically stated that there was no chance in hell that gold when it was down in the $300 ~ 400 range could possibly go up. Ha!!!! This guy is a clown and hope anyone reading this ignores this fool and considers the advice of more intelligent (and proven forecasters) such as Marc Faber.
People don't fall for this clown that is right as much as a broken clock. Don't believe the media falso glorifcation.
Here are the facts of what Bob said in Feb 09
take profits and close shorts, this is not a bullish call, certainly not buying any stocks', 'not a market call', 'time to take money off table when market is that friendly', 'bear mkt has long way to go', 'there are no bargains', 'lower lows across the board coming in stocks and commodities' metals have topped.
He wrote in the Feb Theorist that nimble traders could trade the rally. His call on Aug 30 that the rally was over was pre-mature. Wave 2 rallies can retrace anywhere between 38% and 100% of Wave 1. A good prediction is one that yields a profit and his call worked out even if he was early in calling a top. Prechter is solid but one should do his own homework.
I subscribe to his services and must say his people do good work. Nothing is perfect and he will be wrong from time to time but overall he is as good as they come.
@frank299 That's after winning 800 SP points. Have you ever made 800 SP points in a trade? Second, the advice you give on Bloomberg is for ordinary people, not traders. You don't tell Mrs. Smith to buy the market at a deep scary bottom, that's for people like me. Prechter is by far the most talented guy out there. The only clown and broken clock is you. I could never make the kinds of returns I do without Elliott wave theory.
You can condescend all you want and click a thumbs down on any comment I write but that doesn't change the facts. You're a dabbler who trades ETFs and moves money around in his 401K then brags at the dinner table forcing everyone to listen. It's more important for you to impress your coworker or anonymous people on youtube than to make money. I'm thankful people like you are trading, in the end it helps my bottom line.
you sound very defensive. you can assume all you like at my style of trading and whatever else with no clue. Not surprised as your comments match that attitude. You speak of facts, read my trail and watch video - facts with proof. I haven't scene you provide any facts or proof. Just petty jargon. AGAIN, WHERE IS YOUR PROOF???
I owe him something because that's principally how I learned to trade from his inexpensive little blue book. People can disagree with him all they want but he's an honest man deserving of respect. Go ahead and say anything you like. This conversation is over for me.
Believe me I am short, but I do not need to admire this conman. I know him from 1987. Did you notice he did not send any promotional Emails or You tube in the last 2 months?
@NuanceQwest: logically I think so too. However, what makes it so hard to predict is that the authorities create so many illegal wildcards that distort all the natural movements that should occur. An example of this is the change to Mark-to-Model which allows banks to never admit losses on their balance sheets, and take possession of properties to sit on for as long as they want - when free market would force them to liquidate at much lower prices in the near term = deflation.
Every successful trader has long spells where he is out of it TOTALLY. Jesse Livermore went broke and depressed at least 3 times but people still call him great even though he topped himself after his last losing trade.
Prechter called the Gold bottom the 2000 top and the major US dollar bottom which is going to work its way though everything.
In February he called for the biggest rally since the high. He called for $80 oil.
The market reacts to earnings and yet the market has been going down lately. Matel was up 86%, Amazon up, Apple reported record profits. All this happened in the 4th quarter. What is going to propel the market further after earnings season when it is now going down with solid earnings being reported? You can only cut costs for so long. Eventually the top line growth has to be there. WHERE in Hades is that going to come from? Prechter called the 87 crash , he turned bullish in Feb. 09, now this.
he didn't turn bullish in feb 09. he called for short covering in feb 09. he didn't call the rally nor did he say buy at that time. what is going on right now? let me see: the bond market and the dollar are rallying...that pretty much sums up where big money is going. whoever is left in equities at this point is looking forward and not back. Q4 earnings are part of last year's story. this year's story is the return of the greenback. the future looks dim for equities w/o job creation in the US
You can get into technical jargon all you want, but in the grand scheme of things you are either a bear or a bull. It all depends on what you think the market is going to be doing in the future. By Prechter telling his clients to short cover in Feb. 09 tells me he is no longer bearish. Since he is no longer bearish in the short term, that makes me think Prechter felt the market was in store for a correction on the upside.
I specifically remember him saying a bear market rally was in store and that if it does occur, it will go up quite fast. I also remember him saying we could see around a 50% retracement from the lows but I don't think that was in Feb. 09.
high5flyyer: Precther indeed called the 1987 crush! But please tell this board what he did imediatelly after the 1987 crush that cost him the lose of 90% of his customers!
He did not, repeat DID NOT predict the March 2009 low (only said cover shorts). There is no piece of evidence which you can prove he turned bullish in February 2009.
So you are playing a contrary opinion game with a contrarian prediction?
I will give that to him: he predicted the botom of the $ a few months ago, he was still off by 2 month. But I predicted the botom of the $ for myself and moved to $ when the bullish consensus on the $ was 3%.
Now I am asking you: if the market stays like this for another 6 months and then the S&P500 collapses to 400 as Prechter "predicted" - whould you say Prechter predicted it? After 10 months?
Nuanceqwest: I agree with Prechter about what he is predicting, but the way the PPT, Big banks and the FEDs are manipulating the market up, it could be in a year, by then my FAZ is going down the toilet.
@SergLLLL, well put. Finally someone posts the truth. I've been asking for proof of his bs 50% rally claim and no one has proof they just ignore the facts.
All he said was shorts to cover and take profits cause mkts were so favorable and was not making a market call. Why are there so many suckers..
frank299: Not only does Prechter claims that he "predicted" the rally, he also claims he predicted the magnitude, the social mood change and the headlines in the news.
Honjest to God, if I was so good, I would have bought "way out of the money " calls on the S&P500 in February and gone to Hawaii with Pamela Anderson (trying not to touch the fake boobs) and would not care about TV or pocket money from subscribers.
There is truth to both sides of these comments. However, Look up his videos from October 2007, February 2009, and Recent. If he hits it this time, it'll be hard to argue, although a salesman, he's not one of the best.
you are so right...this guy is a good salesmen..in the 80's he missed the massive rally in bonds...day after crash in87, he went short..calling for the end of mankind...he is a scamster
First of all this is an OLD OLD OLD YouTube. What a joke this Robert Prechter (M F) has been "predicting" a drop in the S&P to 400, he "predicted" that in August 2008! And the market went up and up and up.
Now when the market is down for 2-3 days he is simgimg again! Or you , peterboston made him sing in your You Tube.
The guy is making his money from subscribers. If you listen to what he said in 1987 - when he f*cked up big times - and what he says now, you can't see a diffence
Dude, the DOW has only gone up 1000 points since August. Nobody can be dead on & I don't certainly listen to Precther word for word. He has been constantly saying to be careful around Dow 10500 or so. You have to get the overall picture of what he is thinking. That is what I do, Then I look for the market to show me signs of that overall picture. When he says to get out, like in August, you don't just take his word for it. You have to do some critical thinking for yourself.
I think he is about debunked. I bought his book, I could have bought gold when it was $900, but I didn't. Now it is $1700 from a local dealer. Prechter says he thinks Gold will drop 40%? Do the math and that is only $680, which means gold would be worth 1,020. $120 higher then it was back in 08'. So gold would have to drop far more than 40%, and I can't see that happening in today's turmoil.
timcp1 4 months ago
@watchersx Hahahahahahahaha !!!! I love it when people believe what you say !!! Makes my job easier...
neb967 5 months ago
This guy is such a fraud
sakidd1 9 months ago
@sakidd1 Hahahhahahahahahahahaaha - GS would disagree - trust
neb967 5 months ago
prechter is awesome! NOONE is right ALL THE TIME! he might have been wrong since july but i wonder how many advisors/ timers were wrong in1987, 2000 and 2008! i hope all you haters dump your life savings in stocks, it will give me and prechter followers a better place to short from!!! haha DEFLATION BITCHES!!
premiumpunk13 9 months ago
LOOK, Robert Prechter and Elliott Wave International is the worlds foremost proponents of the Elliott Wave Principal and they excel at that. But going back to June of 2010 they've been extremely wrong. Might as well get investment or trading advice from a carnival clown.
plmeyhgfv 1 year ago
He has been wrong for the past 20 years, especially on COMMODITIES. Probably the worst ECONOMIC adviser I have ever read/listened to.
thecomingdepression 1 year ago
This has been flagged as spam show
WRONG AS USUAL
mossretard 1 year ago
Boy just saw this guy on Kudlow he says dow going to 1000??? Googled his name watched this vid and looking back he was wrong about 2010....?
kerry1111111 1 year ago
Someone asked me about his blue book. It's called "The Elliott Wave Principle". You guys who are complaining about Prechter need to realize trading and analyzing the market aren't the same thing. Short selling, which I know all of you have done, requires a different sort of risk control and VERY good timing unlike going long. I recommend long or out for most. Be an optimist but not a sucker. The market CAN go down very far. Study William J O'Neil and Victor Sperandeo to learn trading.
jdbrown371 1 year ago
I'd like to punch this guy in the face. Market expert my ass. He's been bearish for the last 30 years and his face pops up in the media only when the stock market goes down and he'll say I was right all along. Fucking douche.
jmmacalalag 1 year ago
this fucking bastard and his EWI advising company bankrupted me. They should burn in Hell and be crucified.
spasquier 1 year ago
Does any body pay this guy?? Hes been dead off all the way! 2007 says gold and silver would crash! 2009 that the dow would crash! his still barries on gold and silver !!
bob78145 1 year ago
this man is a fool.
dickson23 1 year ago
Also, the FED has been actively monetizing the stock market forcing the SPX to go UP for the year despite an August Hindenburg Omen, sufficent distribution for a decline and hitting the 200 DMA resistance and 2000:1 insider selling to buying. All that Bennie funny money is pushing these geezer's retirements into the stratosphere against all technicals! Bob thought this couldn't happen, too bad pal! Shorts got creamed and the VIX is in the toilet! Don't fight the Fed!
Sentinel4truth 1 year ago
Prechter last recommended silver in 1973! LMAO! I've made bank in PM stocks. Watch Bob call THE TOP in gold back on tax day of 2008: watch?v=9KbMFlSDGmw
Peter Schiff debated him this week on schiffradio (.) com, very good listen!
Sentinel4truth 1 year ago
This has been flagged as spam show
4:40
what cash equivalent
Yamakashi1 1 year ago
4:40
cash equivalent
Yamakashi1 1 year ago
Still dead wrong! What a joke of a little man. I listened to Marc Faber and Peter Schiff last year and doing good! Man, I would have been creamed if I listened to Prechter.
matwil74 1 year ago
Well, as of October, you are wrong...DJ up !0% since this video was recorded and since you recommended to get out of stocks...
dvdrand 1 year ago
Is this guy still a gold bear?
jerthemessiah 1 year ago
Yep, sell all your gold, stocks, convert it all into US dollars, the Fed keeps pumping out trillions more but we don't care, Bob's voodoo economic theory will save me, won't it Bob? Bob? where did you go?
This man is a sham folks. Peter Schiff is kicking Bob's arse right now
straty01 1 year ago
this guy has a horrible track record according to Hulbert financial digest of investment reports. He would have lost you money over the past 20 years. Not sure why he has such a wide following.
casienwhey 1 year ago
@casienwhey Prechter is like a broken clock, which is right only twice a day.....
apparently his " disciples " accentuate the positive and deny the negative......Prechter
is a master showman , a perfect cult guru........the suckers would die for him
jpandyaraja 1 year ago
@jpandyaraja I think all broken clocks around the world are insulted. Prechter could only hope to come close to a broken clock's forecast abilities.
trublu97 1 year ago
@trublu97 ha ..ha...nice one , that one.......i shall tip my hat and apologise
to all clocks for the insult that i cast on them.....!!
jpandyaraja 1 year ago
@casienwhey
because "they" want to you lose money, therefore, all sucky predictors are hyped to the masses :)
xbl2010 1 year ago
They run a very good ponzi scheme. You need to buy more and more services all
the time. Yes, he may be right. But when it happens is not what he can tell you. Believe me, you will know when it happens. In February he made his worse call ever. He said go short and double down short. Hmmm Guess what, 150 S&P up points came next. Nice Job. It only proves that his wave counts are historical data, Not a forecast. His Feb. forecast and short term updates made bad calls for the next three months.
rockerme4u 1 year ago
@rockerme4u where? I thought I remember him saying to cover shorts and to get long in Feb 09 near bottom.
He said stocks overpriced in the late 90s. said dow/gold would go to 1. He was right, p/e were superhigh p/book were super high dividend yield was amazingly low but you couldn't do much with that information because it continued until 2000.
This guy has great information, but waves are best used as behavioral understanding rather than using them as an actionable forecasting tool
secretbonus 1 year ago
@secretbonus His forecast to short heavy was placed
on February, "2010". That's this year !!!
Look, when he is wrong, he should admit it.
But they keep doing what everyone does when they are
wrong, telling you why they are right when the market
goes against them, and you, if you follow them.
They think they can time it, but they can't. That's what made
them sooooo wrong.
rockerme4u 1 year ago
LOL "My mother is not going to play the VIX." HAHA
eesloan4 1 year ago
in the end the market responds to earnings he said lol ha hahahahaha THANK YOU FOR THE LIQUIDITY
AntiPsychopath 1 year ago
Bearishness is rampant with guys like Prechter and many others preaching doom and gloom. The average investor is terrified of his own shadow and lots of money is on the sidelines because of it. Yes, we have been seeing some deflationary forces, but "Helicopter Ben" is only going to let it go so far before he cranks up the machine. As a contrary play I think it's a good time go go long if you've got the guts and the ability to stay nimble.
i4Truth 1 year ago
This has been flagged as spam show
@i4Truth Prechter is like a broken clock, which is right only twice a day.....
apparently his " disciples " accentuate the positive and deny the negative......Prechter
is a master showman , a perfect cult guru........the suckers would die for him
jpandyaraja 1 year ago
@i4Truth u are right ...i just went insanely long today......main reason ?
Prechter is bearish ........did the same in 1987 as well ...
jpandyaraja 1 year ago
The trick is to keep saying the market will collapse and eventually he will be right. Of course market moves in cycles. There is absolutely no value in this kind of forecast.
This guy has been saying since mid 2009 that the market will go below mar 09 low. Even with the recent correction we are far from it. I just don't understand why would anyone still believe in him. He is a complete scam.
kleemc 1 year ago
I just watch this video posted on jan 22nd...he is right on the US dollar, the beginning of what looks like the stocks depreciation and back in jan....he mentioned about dubai, spain and "GREECE"..depending on how you translate it...he's quite the right guy when it comes to warning signals about potential Euro fallout. 2 thumbs up for me for Bob!
djiangchan 1 year ago
What did 'SergLLLL' say 3mo. ago ---- lmao -- Has anyone even looked at what happened a year or two before the crash in the 30's? Many market analysts said the market was going to continue to climb and no more bottom for the future.... Sure enough the market crashed. Today is 5/20/10 -- what did Prechter say to do -- put your $ some place safe because a new bottom is coming. Tomorrow is Fri. put your $ in a safe place.....
lic2kil007 1 year ago
Prechter isnt perfect, nobody is. But always comes with alot of data and lays his case out coherently and honestly.
He may have just been a little early in his forcast, the VXX is up 100% this month.
chaseef 1 year ago
He said Long on the VIX 2010, which would have and made him dead right on the direction of this market, and even if he just said cover shorts in March 2009 that means he covered on the bottom, so even if he didn't go long after March 2009, he made money and didn't give it all back like the other bears.
ramosxp 1 year ago
He said Long on the VIX 2010, which would have and made him dead right on the direction of this market, and even if he just said cover shorts in March 2009 that means he covered on the bottom, so even if he didn't go long after March 2009, he made money and didn't give it all back like the other bears.
ramosxp 1 year ago
he was one of the very few who did not beleive a bottom was put in in the fall of 2008.
nickalpher 1 year ago
DEAD wrong so far. we'll see.
GovWillKillU 1 year ago
The feds found the fat finger that caused the crash. It was buried deep in frank299's ass.
jdbrown371 1 year ago 9
LOL "My mother is not going to play the VIX." HAHA
eesloan4 1 year ago
Right on again! Markets are tanking as predicted. Deflation is happening.
bushbarnes 1 year ago
one has to laugh at those calling Prechter a liar fool or what ever.......
why do they single him out and not the 90 percent of perma bull analists who missed the meltdown. at the crap tables gamblers hate those who place "dont pass line bets"Its almost un patriotic.
yet the odds favor crapping out.
so leave your money on the table...never walk away as long as you have a single chip left to play with.
cphinton 1 year ago
I am not in to agree with Rob Prechter. I think what he was waiting for will now come to play.
From what I have analysed over the weekend this market is doomed to fail very hard after earning is over.
JWestler 1 year ago
Hi all I think we are heading for wave 8 in Elliot Wave count. Anyone has a suggestion?
JWestler 1 year ago
Prechter has been wrong, wrong, wrong for way too long!!! He has been talking about deflation for the past ten years and emphatically stated that there was no chance in hell that gold when it was down in the $300 ~ 400 range could possibly go up. Ha!!!! This guy is a clown and hope anyone reading this ignores this fool and considers the advice of more intelligent (and proven forecasters) such as Marc Faber.
rohr808 1 year ago
Hi All, I have now lost count of the wave in this markets. Can anyone help?
JWestler 1 year ago
Where's Joe Granville when you need him?
nonthere 1 year ago
People don't fall for this clown that is right as much as a broken clock. Don't believe the media falso glorifcation.
Here are the facts of what Bob said in Feb 09
take profits and close shorts, this is not a bullish call, certainly not buying any stocks', 'not a market call', 'time to take money off table when market is that friendly', 'bear mkt has long way to go', 'there are no bargains', 'lower lows across the board coming in stocks and commodities' metals have topped.
frank299 2 years ago
He wrote in the Feb Theorist that nimble traders could trade the rally. His call on Aug 30 that the rally was over was pre-mature. Wave 2 rallies can retrace anywhere between 38% and 100% of Wave 1. A good prediction is one that yields a profit and his call worked out even if he was early in calling a top. Prechter is solid but one should do his own homework.
nbkm7l1 2 years ago 2
That all means jack. Prechter is no better then 50% right. He his praised by suckers.
frank299 2 years ago
Would love to see some data on your claims.
nbkm7l1 2 years ago
There is no proof on Prechter getting i right as media portrays is calls.
Watch this video - proof of his view and the points I noted below - watch?v=4SG7XGcL7JE
frank299 2 years ago
I subscribe to his services and must say his people do good work. Nothing is perfect and he will be wrong from time to time but overall he is as good as they come.
nbkm7l1 2 years ago
I would encourage you to sign up for free updates from the Federal Reserve. The real P/E on the S&P 500 is as high as it has ever been.
nbkm7l1 2 years ago
@frank299 That's after winning 800 SP points. Have you ever made 800 SP points in a trade? Second, the advice you give on Bloomberg is for ordinary people, not traders. You don't tell Mrs. Smith to buy the market at a deep scary bottom, that's for people like me. Prechter is by far the most talented guy out there. The only clown and broken clock is you. I could never make the kinds of returns I do without Elliott wave theory.
jdbrown371 2 years ago
Maybe you should re-read the facts posted below or watch the video again. Slowly..
frank299 2 years ago
You can condescend all you want and click a thumbs down on any comment I write but that doesn't change the facts. You're a dabbler who trades ETFs and moves money around in his 401K then brags at the dinner table forcing everyone to listen. It's more important for you to impress your coworker or anonymous people on youtube than to make money. I'm thankful people like you are trading, in the end it helps my bottom line.
jdbrown371 2 years ago
you sound very defensive. you can assume all you like at my style of trading and whatever else with no clue. Not surprised as your comments match that attitude. You speak of facts, read my trail and watch video - facts with proof. I haven't scene you provide any facts or proof. Just petty jargon. AGAIN, WHERE IS YOUR PROOF???
frank299 2 years ago
I owe him something because that's principally how I learned to trade from his inexpensive little blue book. People can disagree with him all they want but he's an honest man deserving of respect. Go ahead and say anything you like. This conversation is over for me.
jdbrown371 2 years ago 4
As expected, Again - an empty reply, with no proof.
Ignoring the provided the facts. I envy your ignorance.
frank299 2 years ago
@jdbrown371 please tell me the name of his blue book i want to buy it thanks
rolficus 1 year ago
Again......Prechter is at his best when he is a contrarian.........indicator.
Nuanceqwest 2 years ago
Believe me I am short, but I do not need to admire this conman. I know him from 1987. Did you notice he did not send any promotional Emails or You tube in the last 2 months?
SergLLLL 2 years ago
The mor etime passes, this joker , master of desception Robert Prechter is becoming more Pathetic!
SergLLLL 2 years ago
were gonna be in super-deflation. just wait till all the derivitives bombs start going off
dave997 2 years ago
If we take out 400 in the S&P Prechter is up there with some of the all-time stock market legends.
And I think we will
Nuanceqwest 2 years ago
@NuanceQwest: logically I think so too. However, what makes it so hard to predict is that the authorities create so many illegal wildcards that distort all the natural movements that should occur. An example of this is the change to Mark-to-Model which allows banks to never admit losses on their balance sheets, and take possession of properties to sit on for as long as they want - when free market would force them to liquidate at much lower prices in the near term = deflation.
ISeeThemNow 2 years ago
You are influenced by the Media. He has been screwing up since 1987. He DID NOT predicted March 2009 lows. He only said to cover shorts.
SergLLLL 2 years ago 2
@SergLLLL
Every successful trader has long spells where he is out of it TOTALLY. Jesse Livermore went broke and depressed at least 3 times but people still call him great even though he topped himself after his last losing trade.
Prechter called the Gold bottom the 2000 top and the major US dollar bottom which is going to work its way though everything.
In February he called for the biggest rally since the high. He called for $80 oil.
I like Prechter when he is getting ridiculed.
Nuanceqwest 2 years ago
Make sence. However he has been short since November!
SergLLLL 2 years ago
The market reacts to earnings and yet the market has been going down lately. Matel was up 86%, Amazon up, Apple reported record profits. All this happened in the 4th quarter. What is going to propel the market further after earnings season when it is now going down with solid earnings being reported? You can only cut costs for so long. Eventually the top line growth has to be there. WHERE in Hades is that going to come from? Prechter called the 87 crash , he turned bullish in Feb. 09, now this.
high5flyer 2 years ago
Comment removed
sebensoph 2 years ago
he didn't turn bullish in feb 09. he called for short covering in feb 09. he didn't call the rally nor did he say buy at that time. what is going on right now? let me see: the bond market and the dollar are rallying...that pretty much sums up where big money is going. whoever is left in equities at this point is looking forward and not back. Q4 earnings are part of last year's story. this year's story is the return of the greenback. the future looks dim for equities w/o job creation in the US
sebensoph 2 years ago
You can get into technical jargon all you want, but in the grand scheme of things you are either a bear or a bull. It all depends on what you think the market is going to be doing in the future. By Prechter telling his clients to short cover in Feb. 09 tells me he is no longer bearish. Since he is no longer bearish in the short term, that makes me think Prechter felt the market was in store for a correction on the upside.
high5flyer 2 years ago
I specifically remember him saying a bear market rally was in store and that if it does occur, it will go up quite fast. I also remember him saying we could see around a 50% retracement from the lows but I don't think that was in Feb. 09.
high5flyer 2 years ago
i don't think there was any correction but there sure was a load of government pumping up the markets.
i would not be surprised to learn that bernanke has been monetizing the debt and using that money to pump up stocks since March 2009.
orangedac 2 years ago
Yes and please tell everybody what Prechter predicted imediately after the "1987"? Exactly what he is "predicting now".
He said to close short positions in February 2009. That is all.
SergLLLL 2 years ago
high5flyyer: Precther indeed called the 1987 crush! But please tell this board what he did imediatelly after the 1987 crush that cost him the lose of 90% of his customers!
He did not, repeat DID NOT predict the March 2009 low (only said cover shorts). There is no piece of evidence which you can prove he turned bullish in February 2009.
The guy is a con man
SergLLLL 2 years ago 2
@SergLLLL
When people are paying attention to Prechter, that is when I will get sceptical. But he is at his best when everyone thinks he is a nutjob.
Nuanceqwest 2 years ago
So you are playing a contrary opinion game with a contrarian prediction?
I will give that to him: he predicted the botom of the $ a few months ago, he was still off by 2 month. But I predicted the botom of the $ for myself and moved to $ when the bullish consensus on the $ was 3%.
Now I am asking you: if the market stays like this for another 6 months and then the S&P500 collapses to 400 as Prechter "predicted" - whould you say Prechter predicted it? After 10 months?
SergLLLL 2 years ago
Absolutely, if you are a hedgefund manager you are not trading in 1 week for 250% profit........you'll blow your account eventually.
Think about it, he said go 200% short at about 1150. Do you know how safe that is? With a stop at about 1160 or something like that.
Absolutely, His wave theory works when people are emotional, when sentiment is at extremes.
You will know that Prechter has numerous awards in the 1980 but has gone cold. I still think he has a water-tight case.
Nuanceqwest 2 years ago
Nuanceqwest: I agree with Prechter about what he is predicting, but the way the PPT, Big banks and the FEDs are manipulating the market up, it could be in a year, by then my FAZ is going down the toilet.
SergLLLL 2 years ago
The fed has no power. No power at all, they exist at the service of the public.
Nuanceqwest 2 years ago
@SergLLLL, well put. Finally someone posts the truth. I've been asking for proof of his bs 50% rally claim and no one has proof they just ignore the facts.
All he said was shorts to cover and take profits cause mkts were so favorable and was not making a market call. Why are there so many suckers..
frank299 2 years ago
frank299: Not only does Prechter claims that he "predicted" the rally, he also claims he predicted the magnitude, the social mood change and the headlines in the news.
Honjest to God, if I was so good, I would have bought "way out of the money " calls on the S&P500 in February and gone to Hawaii with Pamela Anderson (trying not to touch the fake boobs) and would not care about TV or pocket money from subscribers.
SergLLLL 2 years ago
There is truth to both sides of these comments. However, Look up his videos from October 2007, February 2009, and Recent. If he hits it this time, it'll be hard to argue, although a salesman, he's not one of the best.
BringBackCapitalism 2 years ago
you are so right...this guy is a good salesmen..in the 80's he missed the massive rally in bonds...day after crash in87, he went short..calling for the end of mankind...he is a scamster
katelyn101katelyn 2 years ago
Prechter is totally right. Dividend yields are at historic lows. The buying opportunity of a lifetime will be within these nextcouple of years.
Exposethefrauds 2 years ago
We all know this, we do not need Peter to tell us that, neighter I nor you are stupid. We need a market timer, and he is anything but that.
SergLLLL 2 years ago
Why does the media praise this broken clock.
frank299 2 years ago
Sorry August 2009
SergLLLL 2 years ago
First of all this is an OLD OLD OLD YouTube. What a joke this Robert Prechter (M F) has been "predicting" a drop in the S&P to 400, he "predicted" that in August 2008! And the market went up and up and up.
Now when the market is down for 2-3 days he is simgimg again! Or you , peterboston made him sing in your You Tube.
The guy is making his money from subscribers. If you listen to what he said in 1987 - when he f*cked up big times - and what he says now, you can't see a diffence
SergLLLL 2 years ago
Dude, the DOW has only gone up 1000 points since August. Nobody can be dead on & I don't certainly listen to Precther word for word. He has been constantly saying to be careful around Dow 10500 or so. You have to get the overall picture of what he is thinking. That is what I do, Then I look for the market to show me signs of that overall picture. When he says to get out, like in August, you don't just take his word for it. You have to do some critical thinking for yourself.
high5flyer 2 years ago