Back in August I started a post on Prechter with: Be very skeptical when speaking to an Elliotician. Their "alternative wave counts" mean that they can go back to any prognostication and say they just misread the waves. Sometimes I think I should just stick with my yummy chicken entrails and tea leaves recipe, but then the wavers go and get one right. Who knows'... That was Aug. 31...
Chart guru RobertPrechter was on Fast Money this evening, reiterating his comments about extreme declines. He states that bullishness has gone from 2% to 90% (though we're not sure where that comes from), and that volume and breadth are down. Interestingly, when he was asked about gold, he demurred and said he was "very, very bullish" on the dollar. Join the conversation about...
This is a video I came across from February 2008 which goes hand in hand with the article I wrote on November 7 of this year entitled The Recession Is Over My Ass.
Good interview from a few months ago which looks pretty accurate right now "Everybody who's saying ‘buy stocks' today or ‘buy real estate' is, I think, setting up people to get really hurt," says Prechter, who believes the bear market rally is reaching a major top. "We had a great opportunity at [S&P] 667 - that was the big opportunity," says Prechter,...
As we said yesterday , all the cool, bearish folks are dollar bulls now. Elliot Wave analyst RobertPrechter, who yesterday described the crash of 2008 as a "warm up," was on Tech Ticker explaining his belief that the dollar will surge. TechTicker : Ever the contrarian, Prechter cited the heavy bearish sentiment on the dollar when he made similar predictions here in...
... been following closely for most of 2009, originally popularized by one of our favorite gurus, RobertPrechter . Most people see that the asset markets are interconnected - it's the old reflation/deflation trade. But, why does the dollar move counter to all of these other markets? The "flight to safety" explanation is a popular one, and I personally think it's as wrong as...
The first video is a comic sketch sent to me by a friend and what a great sketch it is about the China/US relationship over debt. I don't think I could get everything it says on to a page on this blog. Enjoy! The second is from CNBC interviewing RobertPrechter, CEO of Elliot Wave International, regarding the possible return of strength to the US$ and the fall in equity values. I have...
W ithin the past month, Richard Russell said he was bullish on the market. Something about primary and secondary trends. CXO Advisory now says Russell, in one of the quickest changes of opinion ever recorded, has turned negative on the market. Russell switched to bearish based on his "gut feeling." CXO also posted recently that RobertPrechter, another famous name from the past,...
Dissertation moving along but still taking all my time. Two articles of particular interest seem somehow linked and I recall RobertPrechter's warnings in Conquer the Crash about the 'system' being overcome when the rain finally pours. I am not saying this is it, but interesting nevertheless and potentially prescient. Stocks fall and US$ rises Dubai showing the rest of the debt markets...