U.S. Stocks to Fall After Bear Market Rally - Prechter on Bloomberg - May 2009

[beneehall]

Looking at the DOW right now and it looks like he's nailed it.

[TYX91101]

@frank299

I've been a subscriber to Prechter's newsletter for 15 years. He did in fact call for a corrective rally in March 2009. Three weeks later, against all television market forecasters predictions, the market did in fact bottom and begin to rally.

His admonition to avoid stocks was aimed at the average investor - experienced traders could, and did, buy stocks at low prices with the intention to unload them in a few months time. Sorry you missed the rally. Sucker.

[cisdave]

Well...it is December 2009 and the market hasn't fallen yet. Orangedac do your research. This guy is never right.

[jdbrown371]

@cisdave ... So Paul Tudor Jones is full of shit when he calls Robert Prechter the best? Prechter is busy being right in this video going long while you were too chicken little to get in the market. Now you get in because everybody says its OK even though the SP500 has been trading flat for the past two months. How about that spike in the dollar or the smash up in gold/silver? Don't bitch about Prechter when you can't trade. He is the most competent analyst of our time.

[soundzero]

lol cisdave, i think you should put your foot in your mouth at this point.

[bearcat648]

One of his better videos. However, I don't think we are in a primarily deflationary period, unless you want to peg deflation in terms of gold as the currency. Other than real estate and wages, I expect the price of almost everything else to rise over the long-term in the next few years..

[Nuanceqwest]

Dude, the amount of credit cannot be paid. Deflation...... massive deflation has already begun.

[orangedac]

this guy is uncannily accurate.

all his predictions are right on the money.

if in the future he makes one or two incorrect predictions, it should be seen in light of all the correct predictions he's made!

now when is his new book Conquer the Crash 2 coming out?

[jeff0516161]

No, Wave C began in Oct of 2007. We are about to begin primary wave 3 down of the larger degree Wave C. Wave A down ended with the dotcom bubble, Wave B up ended with Dow around 14,500 - Oct 2007 time frame, which is when Wave C down began. Wave 3 is usually the longest and most intense. Get ready!

[jdbrown371]

Absolutely, without convoluting anything I was counting waves belonging to a shorter time frame but yes I'm waiting for that wave three. We are so close to it! It's going to be MASSIVE.

[jeff0516161]

9/21 will mark 38.2% fib TIME SERIES for primary wave 2 compared to primary wave 1. IMO- primary wave 3 should be ready to start now.

[pc3222]

book written in 2001

[frank299]

His book 'Conquer the crash' was in 2003. Market rallied aprox 100% since then. He may be right - though his timing can be way way off.

[jeff0516161]

You obviously don't understand the theory. The crash began with the dotcom bust. We are in the final wave since then. He couldn't have been more right. Everything in his book is coming to truth. Watch for Dow 1,000.

[frank299]

I understand the theory.  Bottom line mkt rallied 100% since his crash theory. You obviously don't understand theory to suggest Dow to 1000 and we are in final wave. we'd have to be entering wave 3 to make such a claim.

[desafinad0]

It was a rally only if you measure the Dow using the USD--which has become weaker and weaker since 2003. If you measure the Dow using gold or something real the market has not rallied at all since 2003.

[Athenaikos]

Good reasoning.