Robert Prechter Says Bear Mkt Alive And Well

Discussion in 'Trading' started by pspr, May 10, 2004.

  1. pspr


    We must be near a bottom for sure when good old Bob P. comes out of his spider hole to call this a resumption of the bear market. Live on CNBC!
  2. I think that we can still see 1073 in the next day or so, but I must admit that seeing Robert Prechter on CNBC today was a HUGE SIGNAL!

  3. Lucrum


    I'm sure some of his disciples will correct me if I'm wrong but it's my understanding Prechter isn't even a trader. Apparently he makes his living selling books and web site subscriptions.
  4. Prechter or waggie?
  5. Prechter is being interviewed right now by Moe Ansari on his daily radio show "Market Wrap".

    Ansari, an asset mgr and bull at heart, I believe, endeavors to present all views.

    I try to listen to Moe's show when I can for his perspective of the language of the market - to back up and take a look at the forest
    for the trees, as it were. He understands and uses TA as part of his homework, but I like that he maintains his former trader attitude - a level headed perspective, and that you can't predict the market - you can only play off of what it seems to be telling you..

    On the website, under the Media tab at left margin, click on Live Broadcast.

    The broadcasts are also archived.
  6. How nice to see you again James!

    I guess the bigger does of Haldol is finally working, eh?

  7. Remember my insistance that 1150 was a top? That was the best info ET will ever see. How much you lose since I made this brilliant call?
  8. we need Art Hogan, Tom Galvin, Ralph "Illmakeyapoora", joey da bull battipaglila AND James Grant to counteract this witchcraft and call for a bottom in unison:D

  9. you nailed it... that IS funny! :p

  10. Though Waggie doesn't need my help to defend himself, I must say that Waggie is an experienced professional and you havn't begun trading yet. Waggie may get involved in the occasional pissing match, but that aside, you'd be wise to listen to him and consider his points. I don't think he's threatened by you calling a short term top.

    As for sentiment: I have been seeing way too many ET posts and comments that we are due for a major correction in the indexes. That usually means we are near a short term bottom. The whole world was calling for a correction during December last year and we had an almost linear uptrend.

    Also, according to the COT for the last few weeks, it looks like the commercials are trying to scale out of their net short position in the indexes. I think we have a little downside, but we'll be back on the bull path shortly.
    #10     May 10, 2004