ROBERT PRECHTER: PERSISTENT DEFLATION WILL CAUSE A DOLLAR RALLY
Robert Prechter recently turned bearish again after having nailed the March bottom in stocks (as well as the previous decline). He currently sees increasing risks of a rise in the dollar and a subsequent decline in stocks.
Readers of TPC get access to his must read free Deflation Guide here (and no, this is not spam, but a genuine attempt to give you a useful free guide):
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Good read. Thx TPC. Prechter’s track record is not great for the record.
How ungreat is Prechter’s record? EWT offers an expensive service that gives actual positions to open and close but once closed they don’t track performance. Pretty wierd for a stats guy.
You’ll find that’s the truth with most so-called “experts”. Very few actually have above market returns over the long-term.
Prechter turned bearish like a month ago.
A month or so ago-EWT said the US Dollar had bottomed at 78 and would rally –
Needless to say the dollar continued to decline.
Given the current state of the US economy and the spending in DC
the US Dollar will continue to decline.
TPC is very generous in time lines – he says “recently” but it has been something like 6 weeks.
Perhaps TPC works for government with that sort of margin for error.