a "pee your pants" prediction from Elliott Wave Theory guy Robert Prechter

ref: https://www.marketwatch.com/story/elliot-wave-predicts-triple-digit-dow-2010-06-17

....The most likely profile is a stock market crash of historic proportions."

Elliott Wave Theorist offers several reasons, including: "This bear market is of Supercycle degree, the biggest since 1720-1784. It should therefore include a decline deeper that the 89% decline of 1929-1932. A decline of 91.5% or more would carry it (the DJII) below 1,000."     

That guy has been a bear since before he was born.

There was a stock market in 1720?

Not buying any of that shit.

problem is, he's been CORRECT a bunch of times. he's just been EARLY. maybe he's overly bearish BUT I wouldn't discount him.

as for "There was a stock market in 1720?", there were various european "bourses" WAY before the formation of the United States.

maybe we should remember THIS shit from history. https://en.wikipedia.org/wiki/Tulip_mania 

I think his technical basis for these sypercycle lows and it being 6 years off is a bit wacky.

He could be part right, but not that far down..

Just think where the dollar index would go.......i dont see why it couldnt happen really,no empire lasts forever...

Depeche why dont you stop in the forex threads maybe even open a practice account??I need another Bear fan so we can cry together why we make $$$$$

 

I agree with Elliott Wave.  He's right.  We're so screwed for the future.  There is no way out.  No one in his or her right mind can possibly argue otherwise.  Just look at the debt.  You don't need a PhD from Wharton to deduce the obvious.

No, I am not a pessimist, and I am also not an optimist.  I am a realist.  And the reality couldn't be more dismal.

and that's precisely why they're wrong

for every debt there is a credit

the stock market is priced in USD's, anyone that thinks that those who control the USD's will just sit back and watch all this funny money evaporate, hasn't been paying attention the last couple years

dow makes new highs during Obamas first term

and by highs, i mean when priced in dollars

priced in gold, well that's a different story

uh....."the dow" made its all-time high back in Oct 2007.

BOL

their last prediction was on the money this past week.

Don't need this guy to tell me the markets are going south. We have a Socialist in the White House and the debt is out of control. Not a good sign for stocks. Get out of this market as fast as you can. Wait till 2012 after the elections and pray that Obama is out. Still think that Hillary will resign as Secratary of state and run against Obama if the economy gets worse. Inflation will rear its ugly head in 2011 after the new tax increases kick in. I hope I'm wrong about all of this because if I'm correct we're heading for a mini depression with the unemployment rate going to at least 15%. 

My prediction for the Dow is 5500 or less by June of 2011.

there is no way the dow comes close to 1000 and we will not get close to 5500 eaither. 

"The Dow" is about to crash.

4800 by EOY '10.