http://www.elliottwave.com/s.asp?url=/&cn=yt
Watch Robert Prechter on Bloomberg TV on the 20th anniversary of the 1987 stock market crash predict what is unfolding before our eyes today. An uncannily accurate forecast from the man that forecast the 1987 stock market crash.
Why would anyone think that the Fed’s actions have any influence whatsoever on the trend in the stock market?
The Fed has similarly cut the discount rate twice in recent months, and on all occasions (Sept. 18, Oct. 31, Jan. 22, Jan. 30) the stock market immediately rallied… only to see prices give back those gains and more, within a few short days or weeks.
Mind you, these are recent and relatively minor instances. There are longer-term examples that unfolded for years, such as the Fed’s historic campaign in 2001-2002 that saw a DOZEN rate cuts, during which time the S&P 500 lost HALF of its value.
More dramatic still was the Bank of Japan’s campaign that took rates to virtually ZERO for entire decade, even as their Nikkei stock index declined and/or languished over the entire period.
There’s nothing new about this information — we’ve spelled it all out before, as recently as Bob Prechter’s Nov. 27 and Jan. 24 appearances on Bloomberg television.
Watch Prechter on Nov. 27: http://www.youtube.com/watch?v=WJnMia2rARI
With charts and facts, Bob showed how powerless the Fed really is; he also reminded the audience that “People should be careful of what they wish for when they ask for lower rates.”
Yes, the financial establishment labels Bob Prechter a contrarian. But, what does it say about that establishment’s state of mind when arguments based on facts and evidence make a person “contrary”?
All the charts Bob included in that interview — in fact, everything he said at the time and more — is in the current Elliott Wave Theorist and Elliott Wave Financial Forecast. See it all on your computer screen in minutes, via the fast link below.
http://www.elliottwave.com/s.asp?url=/&cn=yt
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LUCIO
Comments
Bob’s readers are doing quite well. They’re up 40% on stock investors, have little or no debt, and rent or own their homes outright. Sitting pretty. Sucker.
Who, me or Prechter? I’d say our advice was equally worthless, it’s just that he gets paid for his. Presumably, indirectly, by morons like you!
Party like it’s New Year’s 1930!
The second crash from 1930 to 1932 did most people in, not the initial 1929 crash.
Did you know that the Dow made a slightly lower low in November 1929 after the bad October?
Just like in 2008…
da bear
If you liked 2008, you’ll love 2009!
Ray take a look at the private email I sent to you.
In case you have not noticed the RE market is already in a correction over the past 2 years, and Commercial is already down. The DOW is down from a high one year ago of $14,000 down to $8,000 the day I wrote my last comment in here on 11-22-08. To make matters worse the DOW is down from 11 years ago when it was at $8,050 in Dec 1997.
Dollar for dollar the R E market beats the crap out of the stock market EVERY TIME.
Wrong, Real Estate is preparing to crash. Especially commercial is the next leg down.
CsStay out of the flip’n stock market.
get into real estate.
today 11/22/08 the DOW is at an 11 year low.!!!Real estate is down a little but 3 times what it was 11 years ago.
not really sure what that comment was in aid of. I didn’t say I didn’t care about people losing their jobs… and nobody outside of the US has a 401K
well when you loose your job and loose your 401 k don’t come on youtube and expect anyone to care. After all - its just the big picture that matters.
Yeah we didnt get affected too badly because we have a good economy, we have restrictions on things like this (unlike the US). But still heaps of people in the US lost everything, their money, their house etc. Moral of the story = getting greedy ruins lives
I didn’t say it was a good situation. Part of the reason for the aussie dollar drop against the US dollar was the 1% interest rate cut you guys just got. Low interest rates are good for mortgage holders.
yeah ok but im just talking about the people who lost their houses and virtually everything. this isnt a good situation if thats what your getting at…
A strong US dollar is a good sign. It’s one of the ingredients required to get us out of this BAD situation. Historically 65c isn’t a bad conversion rate. I was living in Australia when it fell below 50c.
look what im getting at is that this entire situation is more BAD than good. It was caused by a bunch of guys who got too greedy. I just used that holiday as an example
Their plight is also a tad more important than your holiday don’t you think?
what about the people that lost everything and are now forced to live in their cars?
The world economy will benefit from a stronger US dollar. That’s a little more important than your holiday. I too am Australian but I live in Europe. I was very happy to see the Euro fall against the dollar. It will result in increased tourism and exports.
This entire thing is starting to fucking **** me off. First things first, im Australian and if the US economy got fucked up because a few guys got too greedy then that isnt my business. But if the entire world economy gets a kick in the balls then it is my bussiness. Our dollar is worth like 65 US cents now. I mean i was going on a holiday overseas at the end of the year which i have been looking forward to but I may have to cancel it because everything got twice as expensive.
I think he is best for conservative buy and hold approach, rather than speculating. ie he can help us see if something is overvalued, but things can stay overvalued for a while
“If I put in here once a week that a 30% fall is coming in the stock market, one day I’ll be right. I hope a few million people read my book the next week.”
Then let me “put in here” that your worthless U.S. stocks will be about 90% lower this time next year.
I bet you one day next year, I’ll be right.
Do you think I can win a lottery ticket since you seem to be a very good psychic, please!
Obama wins election. Israel attacks Iran by January. We havent seen anything yet !!
Thanks for your worthless advice. Please spare us from any future predictions.
