And he, like Nouriel Roubini, is littering email boxes with spam, hoping someone is stupid enough to get sucked in by these one way prophets, and shell out some shekels for some bearish drivel...
Just press delete!!!!
Because Prechter, now for two years, has said we are ready to roll over and take out 666.
Just like last September when he said the Dow was heading to 1,000! Right before it resumed it's uptrend!
And just like then, he needs new subscriptions to feed his folly!
Inside the April 2011 Elliott Wave Financial Forecast ...
Earthquake, Tsunami, Oil-shock, Wars, Debt Crises:
Nothing's Gonna Get Investors Down.
Will the Market Reward That Much "Unbending Loyalty"?
The public's commitment to US equities is starting to resemble a country western song. Investors have chosen to "stand by their stocks," come what may in global politics and finance, including:
- One of the most politically unstable climates in recent history, as civil protests and military conflict spread across the Middle East and North Africa.
- A series of devastating natural and man-made disasters from Japan to New Zealand to Europe.
- Multiple sovereign crises that will not go away.
- The rapidly receding cash reserves of pension funds.
- And the fact that the S&P 500 is trading at the same level today as it did 12 years ago.
But like the lyric says: Been down so long so low, there's only one place left to go -- up. The rally in the major indexes from mid-March has appeared to stoke "worst-is-over" sighs of relief.
Will the market reward this much unbending loyalty? The just-published Elliott Wave Financial Forecast reveals the answer. Both in the US and beyond, our analysis considers:
- Germany's economic recovery PLUS the EU bailout of Greece and Ireland: Have these developments diminished the public's fear of sovereign debt default?
- Soaring oil costs -- bad for stocks? Our chart shows three full years of what the evidence really says about these two markets.
- A sober, fact-based look at the Japanese stock market, before & after the tsunami/earthquake -- read for yourself the quote which forecast "falling stock prices" before the natural disaster.
- If bad news is bearish, then why did Japanese ETF's see their largest cash INFLOW in 15 years in the week after the March 11 tsunami/earthquake?
- If the whole world -- including 96% of traders -- are bearish the US dollar, can it mean a price reversal at four degrees of trend? Our chart shows the answer.
- The return of "Pay-In-Kind" bonds: these toxic instruments allow companies to pay off their debt with more debt (literally). TheFinancial Forecast recalls the outcome of last time PIK bonds were so widely popular.