Prechter on Bloomberg - Closes Short Position with 800-point S&P Gain - Feb. 25, 2009
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I could not agree more. so many people are very ignorant about Prechter's stance on the market.
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Feb 25th 2009
Sell Gold At 925
Sell Silver 11
Sell Stocks (overvalued) bottom
Sell Commodities
Buy Bills
Buy Dollars
Sounds like a poor prediction.
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Prechters consistent position from march low was to be neutral and be in cash - which is the worst asset class to be in.
Show me the proof where Prechter clearly said buy stocks in March please!
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frank299,
Covering shorts wasn't a no brainer at the time. Everyone thought the market was going lower, except a few people like Prechter. He also called the 9,000-10,000 top range we're at now and advised subscribers to go long for the bear market rally.
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Why does the media keep glorifying him. Covering shorts and taking big profits was a no brainer.
He did not suggest to buy and be part of this great historic short term gain.
He did not turn bullish in March, just neutral.
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This is what's happening. The dollar buys 5xs more real estate than it did in 05/-07. he's only suggesting deflation for a couple more years.
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This Sounds like the same scam pulled by
Nathan Mayer Rothschild (17771836) Follow
The Money..
What is the Governmental and Bank Objectives
Here??? Hmn I wonder
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seriously how can you not give this man credit when he has just provided his subscribers with a 750,000 % return in 18 months.
thats a record that will stand for centuries!
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Prechter rocks.
Ntone606 2 years ago 6
Not impressed.
He was neutral on the market, missed the rally. He was bearish on gold too.
Timing the market with ECRI is a better approach. They called the recession in March 2008, said get out, then maintained that call through 2008, until March 2009, at which point they said go long. They MAINTAINED that call despite the perma-bears all the way til now, and they still hold the call based on their leading indicators.
abcdefghix2006 2 years ago 2