Stock Market Crash – Robert Prechter on Bloomberg – Oct. 19, 2007
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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Duration : 0:7:7
[youtube SjS60TaD_J8]
Tags: 1987, Analysis, Banks, bloomberg, Central, commentary, crash, fed, Japan, Market, news, prechter, robert, stock, the
March 27th, 2010 at 12:55 pm
Please check me …
Please check me out on twitter: StockHighlights …. I never waste any1 looking to make money’s time. You will like my insights and market timing skills. Youtube videos coming soon!
March 27th, 2010 at 12:55 pm
A broken clock is …
A broken clock is correct twice a day.
March 27th, 2010 at 12:55 pm
What “mistake on …
What “mistake on the dollar”? Against all mainstream logic, the dollar is rallying, as P anticipated.
To answer your Q, “what’s stopping the gov’t from printing?” That’s easy — the Chinese, the U.S.’s biggest lenders.
March 27th, 2010 at 12:55 pm
SELL, SELL, SELL…
SELL, SELL, SELL…
March 27th, 2010 at 12:55 pm
People aren’t …
People aren’t borrowing. Big banks are refusing to lend. People are walking away from mortgages. FHA is the housing market. Liquidity is drying up and never has there been so much debt to pay off. If you think that’s inflation then buy gold, short the dollar and get filthy rich. Here’s your chance, the dollar rallied and it must be a correction before it plunges further down. The Fed has enough on its books that its a threat to it’s own survival. Might as well listen to Jim Cramer
March 27th, 2010 at 12:55 pm
Prechter predicted …
Prechter predicted that gold would go up in the blowout typical of commodities and then correct sharply. With hindsight, his forecast was 100% correct. Other than one bad call, he called nearly every turn in gold for the past twenty years. The last two decades, Prechter called the gold market better than anyone else in history. If you’re trading Elliott correctly, when you’re wrong you don’t lose much and every trader who makes money consistently loses money on at least 40% of his trades.
March 27th, 2010 at 12:55 pm
Part of Prechter’s …
Part of Prechter’s mistake on the dollar, I think, was to ignore the role of the Fed and the administration. They are “psychological” players in this game too, and you have to consider the effect they will have. If we suffer a crash of the magnitude that Prechter predicts, you can be sure that the government is going to PRINT and SPEND until jobs and asset prices respond. Why wouldn’t they? What is stopping them? What do they gain by holding back? The right play here is gold.
March 27th, 2010 at 12:55 pm
This guy was so …
This guy was so wrong about gold. And in a recent interview he still thinks gold could go down. But he’s right about the other things he mentioned.
March 27th, 2010 at 12:55 pm
If the Dow is …
If the Dow is topping right now, and the next leg down is equal to the first, Dow 10200 will yield a downside target of BELOW 2500.
March 27th, 2010 at 12:55 pm
Just cause u cannot …
Just cause u cannot predict market or posterboys and girls of Media cannot do doesnot mean no one else can do..
March 27th, 2010 at 12:55 pm
Here is the great …
Here is the great thing. History sure does rhym so if you want to make money of these things i’m sure you could find a way.
It is very useful to look at things both as a participant with your own emotions and a spectator/speculator/investor.
March 27th, 2010 at 12:55 pm
More like a class …
More like a class war ON TOP of WW3..
March 27th, 2010 at 12:55 pm
His Willer curve …
His Willer curve he may stick i his …
Stock market could be predicted , but not 100% …
He is using mathematical curve to predict the markets ,,, IF Economy behaves as an mathematical curve ,, everything would be predicted 100% … IT does not work ,,, Precter …
March 27th, 2010 at 12:55 pm
WOW the guy was …
WOW the guy was bang on.
March 27th, 2010 at 12:55 pm
So, he’s still …
So, he’s still predicting below the march bottom, even as we hit 10k today. Is this the top? Good time to buy bear funds?
March 27th, 2010 at 12:55 pm
This is so Good. …
This is so Good. Right on! Next Chapter: Will the dollar rise pushing commodities lower in the next leg of this DD, or will Technical analysis breakdown via currency event?
March 27th, 2010 at 12:55 pm
One more great …
One more great economist who predicts the economy correctly and great traders and economist Michael Hudson, Peter Schiff, Jim Rogers, Marc Faber and so many more. God help us we have Idiots in our government.
March 27th, 2010 at 12:55 pm
Just wondering, do …
Just wondering, do you think WW3 will be a class war?
March 27th, 2010 at 12:55 pm
Has anyone tried …
Has anyone tried this yet? originalturtletrader [dot] com
March 27th, 2010 at 12:55 pm
The rich get richer …
The rich get richer, the poor stays poor, hardworking get middle finger, the lazy get government help……….
March 27th, 2010 at 12:55 pm
Check out this …
Check out this great source for anything stock related online:
buyingstocksonlinesource.blogspot. com
March 27th, 2010 at 12:55 pm
Nice try. Keep it …
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March 27th, 2010 at 12:55 pm
Nice try. Keep it …
Nice try. Keep it up check out esteembpo + com for social media marketing. gjdfg
March 27th, 2010 at 12:55 pm
period 9 ftw
period 9 ftw
March 27th, 2010 at 12:55 pm
peace, you must …
peace, you must know some inside stuff. If i were you, id give a call to the State Dept. You could break that case wide open. Thanks for the insight !