Bob Prechter says stocks headed to bear market lows!!

As much as I am Bearish on the US at the current moment, I doubt this guy has it right.

Market sold if slightly, not even a correction (10%) during one of the most violent outbreaks in Middle East History, it isn't over yet and plenty more violence to come.

This market is inflated by the FED and Stimulus.

I think it will be at 5000 someday. Just not anytime soon.
 
Quote from dwpeters:

That's not what CXO says, based on his public record:
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I recall receiving an email from them the day after the "big bounce off of the bottom".. March 10, was it? Said, "Dow 10,000 for a bear-market counter bounce".
 
Quote from dwpeters:



It isn't necessary to predict to trade the markets, it is much easier to work with what is known.

"Those who have knowledge don't predict. Those who predict don't have knowledge" Lao Tzu, 6th century BC
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Nicely stated
 
if prechter hadnt figured out his scam, he would have been a ladies girdle salesman

full_girdle.jpg
 
Quote from S2007S:

Now I am very bearish, but not as bearish as him, I still think you will be able to buy the SPX under 1000 in the next 12-18 months, anything lower is questionable since Bubble ben bernanke will unleash QE 3, 4, 5, 6, 7 and so on by that time, going to be interesting!


BOB PRECHTER: We're Still In A Massive Bear Market And Stocks Will Crash To New Lows
Posted Feb 25, 2011 08:39am EST by Henry Blodget in Investing
Related: ^dji, ^gspc, spy, ^ixic, qqqq, gld


Investors have gotten wildly bullish of late, as the bull market that started in early 2009 keeps driving stocks to new highs.

But the pigs are about to get slaughtered, says Bob Prechter, president of Elliott Wave International and editor of the Elliott Wave Theorist.

Prechter still thinks the new bull market is just a cyclical "retracement" of some of the bear market losses that we've had since the market crashed in 2008. Prechter expected this retracement to drive stocks 50% above the market lows, but stocks have since soared 30% higher than than he expected.

So when the day of reckoning comes, Prechter thinks, it will be even more startling. And Prechter still thinks that stocks will eventually crash to new bear-market lows (read: below 6,800 on the DOW).

What makes Prechter think this day of reckoning may come sooner rather than later?

Sentiment indicators and other technical analysis.

Investor bullishness has now gotten so extreme, Prechter says, that it has exceeded the levels in 2008 before the market crashed. Investors could still get even more bullish, of course, but eventually they'll pay for this optimism.

And Prechter's not just bearish on stocks: He thinks oil, silver, and other commodities are absurdly overvalued, too. The only thing he's bullish on is the dollar.

And lest he be dismissed as a perma-bear, Bob Prechter is quick to add that he hopes there will come a day when he can come on the show and tell everyone that stocks are finally so crushed and hated that it's a historic opportunity to buy them.

When will that be?

Stay tuned...
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Prechter's a con man / bs artist and your very gullible. A natural match. I'd bet the house when we go many years without coming even close to the old bottom that he won't apologize for his absurdly stupid ideas.

These kind of guys on Wall Street are complete scum. Yes, he hopes the economy goes to hell so he can drum up business for himself.
 
The uptrend since March 2009 was a bear market rally contained within a much larger downtrend that started in 2000.

According to my indicators the March 2009 lows will not hold.

I don't use EW.
 
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