Prechter's macro calls have always been spot on, his timing has tended to be suspect from time to time. I have no doubt whatsoever we will see what Prechter is calling for. But before then I would look for the market to remain irrational longer than most expect, or can remain solvent. Since this thread seems to be about throwing around a bunch of speculative predictions, here's mine. The market will have a sharp correction in the coming weeks, followed by the largest part of the bear market rally, that will take the S&P above 1100, possibly as high as 1300. Gold will blow through its previous high and silver will at least eclipse its previous high in a final bubble spurt. Then it's lights out, and time to short everything for all it's worth. Hey, this wild guess stuff is fun, wheeee!
Good luck. I would think that the Vix will head north in the fall. Bullish sentiment is getting to ridiculous levels....
By this, are you attempting to claim that the original call in this thread isn't wrong? Or am I misreading this?
Nah, it's just a classic "move the fences" tactic. Bottom line, any time someone attempts to make such iron clad predictions, you can be sure that the market gods will see to it they are made to look like fools first...such predictions are truly the stuff of amateur hour.
you misreading. the original call was obviously early and wrong. 600 prior to 1000 in an indeterminate time frame is the tweaked call. regards, surf
Well, Surf is pretty good on DIRECTION, but a bit lacking in TIMING. I think we are DEFLATING. There's no way gold can climb in that environment. Not with wages declining. It's like water moving upstream....just can't happen. Surf made a similar call on CROC - perfect direction, just a bit early.
And he's early again. While you are correct that deflation is still the biggest concern over the next couple of years, it is still very possible that we get a temporary outburst of inflationary pressure this year that could send gold to new highs, before the next deflationary wave hits. Always remember the mantra--the market can remain irrational longer than you can remain solvent.