Bob Prechter: My Charts Say DOW May Plummet To 2,000

goingbroke

And he also sees similar doom in the forecast for high-yield bonds, gold, and other commodities.Text Gold $1,278.00 $1,279.00 ($1.30)
Silver $20.70 $20.75 ($0.05)
Platinum $1,615.10 $1,625.10 ($8.90)
Palladium $538.90 $543.90 ($3.90)

Updated:9/20/2010 5:32:11 PM CST

Wolf359

Isn't that the same guy who's been wrong about Gold for a decade?

roadrunner

Well he can't drum up any business claiming everything is going to the moon, since that's the party line for most stock brokers. So Prechter takes the other side where not as many dare to tread.

Yes, Prechter was calling for a return to $200 gold once it got to $350-$400 back in 2003-2004. And he continued to hold that view as it made a new high each year. At some point he kicked in with everyone else. Now he says it could go for $1300+ but AFTER that, it will crash back to the $600-$800 range, if not lower. Long term I think he stills sees $200-$400 gold. If he's been wrong for 6 yrs, what's another 2 or 3 between friends? He made some great stock market calls from 1982-1987 but nothing quite as good since then.

Prechter makes John Nadler look good. Old Nads has only been wrong for 3 yrs. Prechter has him beat by 3 yrs. But it's still a horse race!

The important thing is that one day one or both of these guys is gonna be right. And that's all the sheeple will remember. They will be called geniuses for their market intuition and idiots will flock to them because of that one great call. Should be good for a few years of subscriptions. So it's important that they keep beating the drum for a crash in order to cash in on subscribers when it finally does happen.

roadrunner

yellowkid

I don't believe his charts. Bonds however could be liable to a big hit, and you don't need charts to see that.

OPA

<< <i>Bonds however could be liable to a big hit, and you don't need charts to see that. >>



Yes..the Bond bubble may burst, but I believe it will a gradual burst. Quick or gradual, I'm ready to jump in when & if 6 month bills return to pre- 2007 State Tax Free yields.