Bob Prechter moves to "aggresive 200% short signal"

Discussion in 'Wall St. News' started by makloda, Nov 26, 2009.

  1. I may not be that aggressive in shorting but I see no compelling reason to be long.

    Downisde at this stage greater than upside.

    I suggest people with net positive wealth at least start moving into cash, even if it yields nothing.

    People with debt should repay them and not be lured into the false belief that debt doesn't matter, just because our governments think so.
  2. gaj


    i think the OP's point was more that prechter still gets quoted for anything, as he's been wrong more in a day than a stopped clock.
  3. Only know him by reputation so just for clarification: he is a gold bull no?
  4. Some of Prechter's gems (from, including the recent 200% short call. Note how he was screaming fire as he was "once-in-a-lifetime-bearish" in Oct 2003 after a similar bull move and then he stayed bearish all the way up like a deer in the headlights. Doesn't mean he must be as wrong now, just an interesting parallel:

  5. Did he close out his bearish run to the hills short proclamation from bottom of 03 yet? Oh wait, he said he amazingly called the crash of 08 in that book, so he re-released it right at the bottom
    of the last major dip, just in case you didn't get the message to get out the 1st time.

    So I guess then, if gold should climb to 10000 in the next 10 years then crash, he can rightfully claim he called it-- right?:D
  6. Marc Faber says Prechter will be vindicated, but first the Dow is going to 40k.:p
  7. I doubt this guy is a successful trader. His source of income is in gullible people willing to read his newsletters and books.

    Elliot Wave theory is a bunch of hoo ha for mystics and freaks having found no reason for market movement other than "the fourth world".

    Run far away from these lost souls who drink kool aid.
  8. I tend to agree. This is something he shares with most (all?) other newsletter writers and talking heads on bubble vision.
    #10     Nov 27, 2009