I've only been following Pretcher for a few months, but everything I've heard him say dating back to 2000 has been bearish. For those of you who have followed him longer, is this always the case. He seems a little fear mongerish, but let me know your experience, thanks!
Prechter had a horrible timing. Indeed his analysis was sound and correct, in theory. He understood the underlying problems of western economies but overlooked the ability of creating bubbles through monetary policy. If you look at the very long term picture you see he was right in indicating a terrible overbought condition in 2000 and even before. But in practice (for trading purpose) this is not sufficient. You can be right about the overall condition of the markets and lose all your money.
I agree with prechter about the elliot waves. the market crash in 2008 formed a 5 wave decline, thats a bearish sign. I also analyzed the the current bull market we we're in before, and I noticed it had a 3 wave corrrection. I hope elliot wave theorists are with me on this, but most investors may find this hard to believe that the bull market of 2009 was simply a "long term correction". We could be heading lower, but thats just my opinion. Investors should always due their own due diligence!
Ironic that this is when he made his double down short advisery. Hmmmm
Then the S&P rallied 150 points. Nice loss for me. My largest to date ever.
He felt his wave counts were telling him to go short. What a joke. Buy his short term update and watch how often his counts change. The fact is, it is a historical analogy. Not to be used as a forecast. And don't forget to buy all his other stuff they will tell you you need. Just like a ponzi scheme, just buy more stuff.
@rockerme4u You're right. If their signals are so good, why they don't make a lot of money in the market, without selling anything ? This applies to ALL gurus. It's so evident, but almost every trader has fallen into the trap at least once (me too). However I like listening to them. Sometimes they make you aware of general movements and important data. But never trade their hints. One has to have his own trading plan and stick to it.
The market did pull back in February, but recovered and made a new high in April. Then the bottom fell out. Interesting observation - "the bond market is the biggest bubble in the history of the world". It represents debt that can never be repaid. That said, it represents the final firewall to be broken in the bear market.
LIES. People don't believe the false media glorification. Prechtar did not turn bullish year ago - he turned neutral. Here are the facts that I can prove which he said a year ago.
He clearly says: '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' He also said gold is topped.
October 2011.....we're still waiting for the apocalypse:( YAWN
corneliusfelix 5 months ago
I've only been following Pretcher for a few months, but everything I've heard him say dating back to 2000 has been bearish. For those of you who have followed him longer, is this always the case. He seems a little fear mongerish, but let me know your experience, thanks!
KevinCerovich 1 year ago
Prechter had a horrible timing. Indeed his analysis was sound and correct, in theory. He understood the underlying problems of western economies but overlooked the ability of creating bubbles through monetary policy. If you look at the very long term picture you see he was right in indicating a terrible overbought condition in 2000 and even before. But in practice (for trading purpose) this is not sufficient. You can be right about the overall condition of the markets and lose all your money.
Durchbrechen 1 year ago
I agree with prechter about the elliot waves. the market crash in 2008 formed a 5 wave decline, thats a bearish sign. I also analyzed the the current bull market we we're in before, and I noticed it had a 3 wave corrrection. I hope elliot wave theorists are with me on this, but most investors may find this hard to believe that the bull market of 2009 was simply a "long term correction". We could be heading lower, but thats just my opinion. Investors should always due their own due diligence!
SomeVideoCrap 1 year ago
fallen yet?
boblamhk 1 year ago
Ironic that this is when he made his double down short advisery. Hmmmm
Then the S&P rallied 150 points. Nice loss for me. My largest to date ever.
He felt his wave counts were telling him to go short. What a joke. Buy his short term update and watch how often his counts change. The fact is, it is a historical analogy. Not to be used as a forecast. And don't forget to buy all his other stuff they will tell you you need. Just like a ponzi scheme, just buy more stuff.
They got a lot to sell.
rockerme4u 1 year ago
@rockerme4u You're right. If their signals are so good, why they don't make a lot of money in the market, without selling anything ? This applies to ALL gurus. It's so evident, but almost every trader has fallen into the trap at least once (me too). However I like listening to them. Sometimes they make you aware of general movements and important data. But never trade their hints. One has to have his own trading plan and stick to it.
Durchbrechen 1 year ago
The market did pull back in February, but recovered and made a new high in April. Then the bottom fell out. Interesting observation - "the bond market is the biggest bubble in the history of the world". It represents debt that can never be repaid. That said, it represents the final firewall to be broken in the bear market.
TYX91101 1 year ago
LMAO @title
TheBearWatch 2 years ago
This has been flagged as spam show
LIES. People don't believe the false media glorification. Prechtar did not turn bullish year ago - he turned neutral. Here are the facts that I can prove which he said a year ago.
He clearly says: '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' He also said gold is topped.
frank299 2 years ago