Best of the Week
Most Popular
1. Dollargeddon - Gold Price to Soar Above $6,000 - P_Radomski_CFA
2.Is Gold Price On Verge Of A Bottom, See For Yourself - Chris_Vermeulen
3.Dow Stock Market Trend Forecast 2018 - Nadeem_Walayat
4.Gold Price to Plunge Below $1000 - Key Factors for Gold & Silver Investors - P_Radomski_CFA
5.Why The Uranium Price Must Go Up - Richard_Mills
6.Dow Stock Market Trend Forecast 2018 - Video - Nadeem_Walayat
7.Jim Rogers on Gold, Silver, Bitcoin and Blockchain’s “Spectacular Future” - GoldCore
8.More Signs That the Stock Market Will Rally Until 2019 - Troy_Bombardia
9.It's Time for A New Economic Strategy in Turkey - Steve_H_Hanke
10.Fiat Currency Inflation, And Collapse Insurance - Raymond_Matison
Last 7 days
Lehman Brothers Financial Collapse - Ten Years Later - 18th Sep 18
Financial Crisis Markets Reality Check Now in Progress - 18th Sep 18
Gold’s Ultimate Confirmation - 18th Sep 18
Omanization: a 20-year Process to Fight Volatile Oil Prices  - 18th Sep 18
Sheffield Best Secondary Schools Rankings and Trend Trajectory for Applications 2018 - 18th Sep 18
Gold / US Dollar Inverse Correlation - 17th Sep 18
The Apple Story - Trump Tariffs Penalize US Multinationals - 17th Sep 18
Wall Street Created Financial Crash Catastrophe Ten Years Later - 17th Sep 18
Trade Wars Are Going To Crash This Stock Market - 17th Sep 18
Why Is Apple Giving This Tiny Stock A $900 Million Opportunity? - 17th Sep 18
Financial Markets Macro/Micro View: Waves and Cycles - 17th Sep 18
Stock Market Bulls Prevail – for Now! - 17th Sep 18
GBPUSD Set to Explode Higher - 17th Sep 18
The China Threat - Global Crisis Hot Spots & Pressure Points - 17th Sep 18 - Jim_Willie_CB
Silver's Relationship with Gold Reaching Historical Extremes - 16th Sep 18
Emerging Markets to Follow and Those to Avoid - 16th Sep 18
Investing - Look at the Facts to Find the Truth - 16th Sep 18
Gold Stocks Forced Capitulation - 15th Sep 18
Hindenburg Omen & Consumer Confidence: More Signs of Stock Market Trouble in 2019 - 15th Sep 18
Trading The Global Future - Bad Consequences - 15th Sep 18
Central Banks Have Gone Rogue, Putting Us All at Risk - 15th Sep 18
Gold Price Seasonal Trend Analysis - 14th Sep 18
Growing Number of Small Businesses Opening – and Closing – In the UK - 14th Sep 18
Gold Price Trend Analysis - Video - 14th Sep 18
Esports Is Exploding—Here’s 3 Best Stocks to Profit From - 13th Sep 18
The Four Steel Men Behind Trump’s Trade War - 13th Sep 18
How Trump Tariffs Could Double America’s Trade Losses - 13th Sep 18
Next Financial Crisis Is Already Here! John Lewis 99% Profits CRASH - Retail Sector Collapse - 13th Sep 18
Trading Cryptocurrencies: To Win, You Must Know Where You're Wrong - 13th Sep 18
Gold, Silver, and USD Index - Three Important “Nothings” - 13th Sep 18
Precious Metals Sector On a Long-term SELL Signal - 13th Sep 18
Does Gambling Regulation Work - A Case Study - 13th Sep 18
The Ritual Burial of the US Constitution - 12th Sep 18
Stock Market Final Probe Higher ... Then the PANIC! - 12th Sep 18
Gold Nuggets And Silver Bullets - 12th Sep 18
Bitcoin Trading - SEC Strikes Again - 12th Sep 18
Gold Price Trend Analysis - 11th Sep 18
USD/JPY - Profitable Opportunity Just Ahead of the Bulls? - 11th Sep 18
China Extends its Stocks Bear Market - 11th Sep 18
Best Car Jump Starter 2018 Review - Oittm 1500A Peak Current Battery Booster - 11th Sep 18
Index Put/Call Ratio spiked. What this Means for the Stock Market - 11th Sep 18
ALERT: Gold-to-Silver Ratio Spikes to Highest Level in 27 Years! - 11th Sep 18
Stock Market Trend Forecast Update - 11th Sep 18
Transportation Index Leads Stock Market Higher - 11th Sep 18
What Personality Traits Do You Need to Be a Successful Trader? - 11th Sep 18

Market Oracle FREE Newsletter

Trading Any Market

Robert Pretcher's Greatest Trade Ever! Stocks Bear Market Could See Spike Higher

Stock-Markets / Elliott Wave Theory Feb 27, 2009 - 01:29 PM GMT

By: Nadeem_Walayat

Stock-Markets Best Financial Markets Analysis ArticleWith the Dow trading some 50 points lower today at 7120, earlier in the week, the 30 year veteran technical analyst, Robert Prechter announced both in his Elliott Wave Theorist newsletter and publicly on Bloomberg TV that he was covering his stocks bear market short position call that he recommended to subscribers over 18 months ago when the Dow was trading at 13,900.


Robert calls this his best ever trade recommendation during his 30 year career, amounting to some 6,700 points on the DJIA and 800 points on the S&P.

Robert Prechter's Historic Market Call - Newsletter

On Bloomberg TV, Robert Pretcher advises his clients to close their short positions and prepare for a possible strong spike higher as stock prices hit 11 year lows as investor sentiment indicators reached extreme bearish levels. However he also sees at least another 2 years for the stocks bear market before it bottoms due to the wave count and earnings fundamentals. Extreme investor sentiment indicators also point to a signifcant top in Gold and Treasury Bonds.

In the latest issue of Robert Prechter's Elliott Wave Theorist, he outlines three markets that are on the verge of a major trend change, additionally subscribers to this months historic issue also gain access to the previous three month issues.

By Nadeem Walayat
http://www.marketoracle.co.uk

Copyright © 2005-09 Marketoracle.co.uk (Market Oracle Ltd). All rights reserved.

Nadeem Walayat has over 20 years experience of trading derivatives, portfolio management and analysing the financial markets, including one of few who both anticipated and Beat the 1987 Crash. Nadeem's forward looking analysis specialises on the housing market and interest rates. Nadeem is the Editor of The Market Oracle, a FREE Daily Financial Markets Analysis & Forecasting online publication. We present in-depth analysis from over 250 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any trading losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Attention Editors and Publishers! - You have permission to republish THIS article. Republished articles must include attribution to the author and links back to the http://www.marketoracle.co.uk . Please send an email to republish@marketoracle.co.uk, to include a link to the published article.

Nadeem Walayat Archive

© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Comments

TraderJoe
02 Mar 09, 13:35
Prechter Perma Bear

Prechter is a perma bear, don't believe me ?

Get a copy of his 1995 book On the crest of a Tidal wave, in which he builds up to his forecast why the Dow is heading for 400, instead the dow soared to 13,000 over the next 5 years !

LOL, if he is turning bullish then that means stocks will crash!


Richard
18 Mar 11, 03:18
PERMA BEAR

I don't believe Prechter has made one dollar trading, only money making predictions on his website that is loaded with so many kinds of subscriptions you'd have to pay $10,000 a month to follow everything he's ranting about.

He's been consistantly bearish on stocks since june 2010, during which time the market has rallied more than 10%. It doesn't matter if he's ultimately right, anyone trading his advice on leverage is more than wiped out by now.

Furthermore he has this massive deflation scenario that he's published books about and been preaching about since 2008, during which time the commodities have gone to the moon, silver is up nearly 200%. Gold double, Oil 300%, etc. etc.

Again it doesn't matter if he's ultimately right or not, he's not made a single correct call and worse, his advice is totally around the wrong way.

He's a classic example of why some of the best traders like Jesse Livermore said that its absurd to be bullish or bearish... you lose your opinion not your money. You make money when it goes up and when it goes down and timing is everything. You can't just pick an opinion and preach about it like Pretcher..... the broken clock who is right once a year....


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

6 Critical Money Making Rules