BOB PRECHTER: SELL THE DOLLAR, BUT THE BEAR MARKET IS JUST STARTING
11 June 2010 by Staff
9 Comments
Bob Prechter has called this deflationary market environment about as well as anyone over the last few years. Prechter says now is the time to sell the dollar, buy Francs and expect a minor bounce in the S&P. But don’t be fooled, he thinks the bear market is continuing and that stocks have much lower to move over the longer-term. See the full video here.
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short term i have to agree,stocks,dollar gold down…..stocks more than dol-gld.
basically bob calls for a dead-cat euro bounce w/swiss franc the best…..i’m adding to my long gold position on this dip.
that’l be the day………when i buy the swiss franc……just can’t do it.
bout’ like IB buying gold…….if you’re not long anything you will never understand gold.it will be years before i am long the DOW…..(quite the temporary short tho,TPC really good at those calls).
long the dow at the end of the bear that started in 2000
that won’t be near as interesting as this, but i have an idea how i’m going to spend my time.
SP 500 will hit 1300 and shock Pretcher.
BOTH Gold and the Dollar will underperform the market over the next 2 or more months.
FYI here is a chart I posted on this site back in April while some were calling for a top in the dollar. Some readers laughed at this notion.
BINGO
http://www.theleadernews.com/images/Dollar.jpg
FYI my call that the SP500 would fall short of 1228 (Fibo) and top at 1214 (Gann) was only 5 pts off.
My call for Gold to fall in April was off. But heres a chart for those considering to buy GOLD.
Say it ain’t so Joe….. GOLD is at a top and won’t be nowhere near a buy level for several months.
TOP:
http://www.theleadernews.com/images/GLD_2010.jpg
See ya.
“Bob Prechter has called this deflationary market environment about as well as anyone over the last few years”
Ha? He has been making this call in various forms since 1986! The deflation call since 1996.
Bob Prechter is a technical analyst, correct? Sorry but we are in uncharted waters and I’ll stick with crafty Bernanke and the US dollar. However, I am not a trader much less a day trader. I don’t buy and hold either, I just hold.
I do believe Prechter. Because the debt crisis will spread to Eastern Europe. A lot of folks in E.-Europe have borrowed in CHF and now the crisis hits E.-Europe that will have an impact on the CHF. (i.e. going up against the EUR, USD). Because the CHF is a much smaller currency than the EUR.
Yes, Prechter has been a perma bull, because he ignored the role of credit too much. “”Peak credit”" happened in about 2006, 2007 and that was the turning point for the markets.
Besides a rising CHF/EUR I expect to see a rising CHF against all eastern european currnecies. (E.g. HUF, PLN). But this means more trouble for european banks, as well.
For the time being (!!!), I expect the EUR/USD to go up but the USD/CHF to go up more.
I even could see a substancial rise in the Eur/USD in the next 2 to 8 weeks. Because a lot of european governments have announced cuts in spending. While the US still didn’t show any sign of reingning in their prolifigate spending.
“While the US still didn’t show any sign of reingning in their prolifigate spending.”
Say what? Poor research Nutcase.
http://voices.washingtonpost.com/ezra-klein/2010/06/america_does_not_have_an_expan.html