Robert Prechter Says Bear Mkt Alive And Well
- Thread starter pspr
- Start date
Prechter or waggie?
Prechter is being interviewed right now by Moe Ansari on his compak.com 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.
Quote from waggie945:
How nice to see you again James!
I guess the bigger does of Haldol is finally working, eh?
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?
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.