Best of the Week
Most Popular
1. Gold vs Cash in a Financial Crisis - Richard_Mills
2.Current Stock Market Rally Similarities To 1999 - Chris_Vermeulen
3.America See You On The Dark Side Of The Moon - Part2 - James_Quinn
4.Stock Market Trend Forecast Outlook for 2020 - Nadeem_Walayat
5.Who Said Stock Market Traders and Investor are Emotional Right Now? - Chris_Vermeulen
6.Gold Upswing and Lessons from Gold Tops - P_Radomski_CFA
7.Economic Tribulation is Coming, and Here is Why - Michael_Pento
8.What to Expect in Our Next Recession/Depression? - Raymond_Matison
9.The Fed Celebrates While Americans Drown in Financial Despair - John_Mauldin
10.Hi-yo Silver Away! - Richard_Mills
Last 7 days
Stock Market and the US Presidential Election Cycle  - 16th Jan 20
Shifting Undercurrents In The US Stock Market - 16th Jan 20
America 2020 – YEAR OF LIVING DANGEROUSLY (PART TWO) - 16th Jan 20
Yes, China Is a Currency Manipulator – And the U.S. Banking System Is a Metals Manipulator - 16th Jan 20
MICROSOFT Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 15th Jan 20
Silver Traders Big Trend Analysis – Part II - 15th Jan 20
Silver Short-Term Pullback Before Acceleration Higher - 15th Jan 20
Gold Overall Outlook Is 'Strongly Bullish' - 15th Jan 20
AMD is Killing Intel - Best CPU's For 2020! Ryzen 3900x, 3950x, 3960x Budget, to High End Systems - 15th Jan 20
The Importance Of Keeping Invoices Up To Date - 15th Jan 20
Stock Market Elliott Wave Analysis 2020 - 14th Jan 20
Walmart Has Made a Genius Move to Beat Amazon - 14th Jan 20
Deep State 2020 – A Year Of Living Dangerously! - 14th Jan 20
The End of College Is Near - 14th Jan 20
AI Stocks Investing 2020 to Profit from the Machine Intelligence Mega-trend - Video - 14th Jan 20
Stock Market Final Thrust - 14th Jan 20
British Pound GBP Trend Forecast Review - 13th Jan 20
Trumpism Stock Market and the crisis in American social equality - 13th Jan 20
Silver Investors Big Trend Analysis for – Part I - 13th Jan 20
Craig Hemke Gold & Silver 2020 Prediction, Slams Biased Gold Naysayers - 13th Jan 20
AMAZON Stock Investing in AI Machine Intelligence Mega-trend 2020 and Beyond - 11th Jan 20
Gold Price Reacting to Global Flash Points - 11th Jan 20
Land Rover Discovery Sport 2020 - What You Need to Know Before Buying - 11th Jan 20
Gold Buying Precarious - 11th Jan 20
The Crazy Stock Market Train to Bull Eternity - 11th Jan 20
Gold Gann Angle Update - 10th Jan 20
Gold In Rally Mode Suggests Commitment of Traders (COT) Data - 10th Jan 20
Disney Could Mount Its Biggest Rally in 2020 - 10th Jan 20
How on Earth Can Gold Decline During the U.S. – Iran Crisis? - 10th Jan 20
Getting Your HR Budget in Line - 10th Jan 20
The Fed Protects Gamblers at the Expense of the Economy - 9th Jan 20
Last Chance to Get Microsoft Windows 10 for FREE! - 9th Jan 20
The Stock Market is the Opiate of the Masses - 9th Jan 20
Is The Energy Sector Setting Up Another Great Entry? - 9th Jan 20
The Fed Is Creating a Monster Bubble - 9th Jan 20
If History Repeats, Video Game Stocks Could Soar 600%+ - 9th Jan 20
What to Know Before Buying a Land Rover Discovery Sport in 2020 - 8th Jan 20
Stock Market Forecast 2020 Trend Analysis - 8th Jan 20
Gold Price at Resistance - 8th Jan 20
The Fed Has Quietly Started QE4 - 8th Jan 20
NASDAQ Set to Fall 1000pts Early 2020, and What it Means for Gold Price - 8th Jan 20
Gold 2020 - Financial Analysts and Major Financial Institutions Outlook - 8th Jan 20
Stock Market Trend Review - 8th Jan 20

Market Oracle FREE Newsletter

Nadeem Walayat Financial Markets Analysiis and Trend Forecasts

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

© 2005-2019 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