Wednesday, June 14th, 2017

Stock Market Crash – Robert Prechter on Bloomberg – Oct. 19, 2007


www.elliottwave.com 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: www.youtube.com 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

Comments

25 Responses to “Stock Market Crash – Robert Prechter on Bloomberg – Oct. 19, 2007”
  1. jmmacalalag says:

    Being bearish for the last 30 years does not make you an expert. As of now he’s been bearish for the last 2 years, calling tops left and right, keep calling tops and I guess eventually you’ll be right. This guy is one of the biggest crooks.

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  3. jackgoldman1 says:

    Prechter hit the exact peak here. Wow

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    Man that was on my birthday,Damn bush…

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  9. moggerd says:

    He called what right?, he said invest in treasuries the dollar has plunged in value.
    He said don`t invest in gold look at what that has done.
    Insanely bad advise.

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  11. OptionsSchool says:

    I remember this period well, Mario Marciano told me we would have consecutive corrections of 15% in 2008 before the year ever started! People who want to watch CNBC to get their news typically blow off the true technical and economic analysis!

  12. meltingEyeballs says:

    I respect Prechter for his research but something is not right with him. He was blinking more than once every second thruout the interview.

  13. TomHbirbeck says:

    Wow he called that right.

  14. TheCrystalRiver says:

    false prophets
    fuck corporate./

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  18. TYX91101 says:

    Study the 1929-1032 Dow chart. The initial plunge was followed by a recovery bounce. At the time it was assumed the worst was over. Same pattern and psychology exists today. The May 6 panic selloff was the opening bell for the most devastating decline since 1930.

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  20. judoyodan says:

    A broken clock is correct twice a day.

  21. grimesgw says:

    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.

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  23. jdbrown371 says:

    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 shit on its books that its a threat to it’s own survival. Might as well listen to Jim Cramer

  24. jdbrown371 says:

    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.

  25. abcdefghix2006 says:

    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.

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