Monday, September 20, 2010

Worst Bear Market In 300 Years Coming

An ominous pattern forming in the stock market may be telling us the DOW is about to plummet to 2000-3000, says Robert R Prechter, Jr.
Prechter, who writes a market letter for Elliott Wave International, is no stranger to apocalyptic forecasts. For the past year or two, he has been steadfast in his prediction that the market is on the verge of a historic collapse. The timing and depth of this crash has varied--earlier this year, Prechter suggested the DOW might fall to 1,000, and more recently, he said we were looking at the worst bear market in 300 years--but he hasn't wavered in his conviction that we're due for major pullback.
One cause of Prechter's concern is a technical pattern called a "head and shoulders top." Historically, Prechter says, this pattern has often preceded extended bear moves. Prechter thinks the left-hand "shoulder" of this pattern was the market peak in early 2000, the "head" the higher market peak in 2007, and the "right shoulder" the recovery we're enjoying now.
If the pattern is followed by the same pullback Prechter has seen in other eras, Prechter says, the DOW could fall to 2000-3000.
Fortunately, Prechter says he is not predicting that kind of crash. He's just warning about an upcoming severe pullback in stocks.
And he also sees similar doom in the forecast for high-yield bonds, gold, and other commodities.
Link Here..

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6 comments:

  1. yeah and insider selling is rocketing up now same as 2007. could be most individuals just want out of robomarket as the fed POMO's the market 3 days a week. Ponzzzi!

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  2. The government declared the recession ended in June 2009 (I thought they didn't even admit there was one?). Personally I think that means the depression must have started then.

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  3. Sometimes all of this reminds of the Ghost of Tom Joad (Jones?) song of Rage Against The Machine.

    They were/are communists, not that I knew that when I listened to them from 10 years of age to now at 22.

    They're still cool but some of their ideas are convoluted with erroneous content.

    I would have been proud of my country back in the 80s, 50s, 20s, and early 1800s/late 1700s (those periods only). Now? FUCK my country. FUCK every country.

    Especially FUCK British people. Lame ass Eugenicists. I have a couple science books done by British physicists. Man, you guys are demented.

    I love how your academians preach how children need to be indoctrinated into sex education as early as possible but then they go around demanding the depopulation of the globe. That's a neat trick huh? You'll have the slaves be put into a sex induced trance while the intellectuals plan out their destruction. Awesome.

    Drugs, sex, and television... following this mass hypnosis/dumbification will be a mass genocide. Rectus or Sinister?

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  4. The regime won't let the markets crash until after the repubs sweep the house and senate in November. Then they will remove the props (phony printed/injected $$) from the market. After which, they will all go down with the ship!

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  5. @5:18 PM
    12 years of listening to "rage against the machine", you're a communist yourself and you don't even realize it. I doubt you could even define it. Eugenics was popular in America in the 10's and 20's. America was founded by British and predominately British stock well into the 60's. You are one confused dude.

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