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

Robert Prechter of Elliott Wave International and publisher of the Elliott Wave Theorist for about 30 years says that the US dollar has bottomed and that stocks and commodities will decline.

He is interviewed by Maria Bartiromo.

Category:

News & Politics

Tags:

• Robert
• Prechter
• on
• CNBC's
• Closing
• Bell
• 2009
• 08
• 17

[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.

[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.

[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

[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.

[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]

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.

[mwng3000hotmail]

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

[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.