Discussion in 'Trading' started by blogtrader, Oct 27, 2005.
Bob Prechter predicted a crash for this week, join me in the countdown LOL
time to cover my shorts..
Thanks for the post!!
thats exacly what I thought, hehehe
do you have a link to what he said or can you copy and paste it?
"The wave two bound in the Dow ended four trading hours ago. Wave three down is beginning. Expect the market to develop into a crash, with panic increasing into Halloweeen and then culminating within hours. From that low, the market should stage a dramatic three-day bounce for wave four and then resume declining to lower lows for wave five. This decline should leave 10,000 behind for good. Investors stay in cash; speculators stay short. Gold and silver are reversing downward and will not provide sanctuary from crash"
Yeah pretcher is perpetually wrong/bearish . I do think this may be a bottoming process this week, sideways down.
appreciate the info!!!
I base my comments on this chart
ha ha ha. prechter. sorry, but he's officially a great contrarian indicator. while i believe some of his deflation arguments long term, his timing is awful and his views are based entirely on a theory of drawings (huh??!!!) . that article reads "Bob Prechter is sounding the alarm", or some variation thereof. of course he is, he gets paid by being an alarmist. the only person that ever made money consistently from elliot waves is bob prechter - by selling the related books and services.
"by the Hulbert Financial Digest's count, the EWFF's trader's portfolio has endured a staggering annualized loss of 18.1% over the 20 years "
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