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PRECHTER: ON SCHEDULE FOR A VERY, VERY LONG BEAR MARKET

25 May 2010 by Cullen Roche 5 Comments

Robert Prechter discussed the recent global sell-off that has sent all major U.S. averages 10% below their 2010 highs with Yahoo! Finance Tech Ticker host Aaron Task on May 20, 2010. Prechter says that the current climate shows that “we’re in a wave of recognition” where the fundamentals are catching up to the technicals and that it’s time to prepare for a “long way down.”


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Comments
  • James

    I hope he is wrong. And if he isn’t I hope it is more of a stock market thing rather than an economy thing. Something like Japan rather than the Great Depression.

    05/26/2010 at 5:44 AM
    • BGray

      I hope he’s wrong too. But if he’s right, I don’t see how the economy would not completely fall apart.

      05/26/2010 at 1:25 PM
  • Duncan

    TPC,

    To what extent do you agree with Prechter?

    His track record seems to be good, despite his “perma-bear” tag, however I’m skeptical of these very long term “wave” theories – probably mostly because I don’t understand them!

    05/26/2010 at 1:47 PM
    • Cullen Roche TPC

      I too am skeptical of wave theories. They’ve never really helped me. Prechter is not just a chart guy though. He really understands the fundamentals. Unfortunately, I think he relies on his charts a bit too much….Just my opinion.

      05/26/2010 at 2:20 PM