"I turned bearish early but I also said the upper limit was the low US$400 [per ounce] and that is where it stopped and so far I am very comfortable with everything we have been saying.
Gold is in a bear market so it's not a good thing to own, but I think everyone should have some."- Robert Pretcher in 2004
Listening to someone for information doesn't mean following his advice 100%. If you did that, you wouldn't have made money on the BMR, but you'd be sitting in cash. From a real estate standpoint, I can get a beach house in Marina Del Rey for $500K that sold for $1.7m in 06. I'm going to buy one next year for $300K so staying safe is worth it.
well he turned bearish since august and extremely bearish since early november - he and his team are predicting fall below 667 but he got his butt kicked in November, when his predictions came out wrong, at least so far
"I turned bearish early but I also said the upper limit was the low US$400 [per ounce] and that is where it stopped and so far I am very comfortable with everything we have been saying.
Gold is in a bear market so it's not a good thing to own, but I think everyone should have some."- Robert Pretcher in 2004
TheMobocracy 2 years ago
being in US$ and not in equity or gold has been Prechtars consistent position since March 09. When will he be right?
Even a broken clock is right twice a day.
frank299 2 years ago
when was this on?
SubZero5 2 years ago
this won't happen because now everyone loves the dollar
ednan9 2 years ago
You'd better start taking his advice and get positioned into USD. The dollar will go higher while stocks and gold et al will tank.
planetcave 2 years ago
Listening to someone for information doesn't mean following his advice 100%. If you did that, you wouldn't have made money on the BMR, but you'd be sitting in cash. From a real estate standpoint, I can get a beach house in Marina Del Rey for $500K that sold for $1.7m in 06. I'm going to buy one next year for $300K so staying safe is worth it.
BringBackCapitalism 2 years ago
I doubt Prechter, but I have the feeling you have no idea what we are discussing here.
SergLLLL 2 years ago
He has been saying it from August! Not from yesterday.
SergLLLL 2 years ago
well he turned bearish since august and extremely bearish since early november - he and his team are predicting fall below 667 but he got his butt kicked in November, when his predictions came out wrong, at least so far
ednan9 2 years ago
if you a trader and listen to bob precther, you have lost a lot of money since august.
ednan9 2 years ago 2