PRECHTER: DOLLAR WILL RISE, STOCKS FALL IN 2010
11 December 2009 by Cullen Roche
6 Comments
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Comments
Hi TPC, Prechter has been talking about this since August. This is Dec and his Aug call was not the best timing but he will be right at some time. USD and equities moved up today as we knew.
interesting to note that Rogers is buying USD as well. I think Prechter’s 2X equity short is potentially disastrous. His hubris might have gotten the best of him lately.
It is always easy to say than to do. For example, to stay away from crowd.
And guys shouldn’t worry about disastrous trades from a technician who defines risk by charts. He will be long gone before his trade turns to be a disaster.
Rogers long USD, not shorting anything.
I really appreciate the wisdome Rogers has, but much like “financial innovation” has provided value to economics (not much) neither has euphemisms for “I’m in cash” (i.e. long USD).
Rogers is long the USD slightly for a trade because everyone is against it and he figures at some point there will be a short. Prechter is now PRAYING there is a down turn next year.