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by
Robert Prechter, Jr., CMT
9/15/2009 4:30:00 PM
"Has the Stock Market Fallen Enough?" was the question Bob Prechter answered when he spoke to the Market Technicians Association in May 2009. While updating the indicators from his 2002 book, Conquer the Crash, You Can Survive and Prosper in a Deflationary Depression, he discussed the correlation between the stock market and the real estate market; how the big change in social psychology is driving markets down; what to own now (safe cash equivalents); and why the stock market is so volatile. Here are seven video excerpts from his speech:
Filed Under:
stock market
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 1:15:00 PM
The next six media tips look back at Bob Prechter's forecasts for deflation as early as January 2003. In that same month, he set the record straight, regarding the causes of Japan’s deflationary disease in the "Lost Decade" of the 1990s. He also saw parallels with the growing credit bubble in the United States. Out-of-check credit — not low interest rates — was to blame, he said. Read more in this excerpt from Bob’s Elliott Wave Theorist:
Filed Under:
deflation
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 1:00:00 PM
Six years ago, the Federal Reserve called the odds of deflation "extremely small" and assumed that it could easily curb such a threat. Bob Prechter said its assumptions were flawed -- and now those flaws become more visible by the day. See why Bob believes investors can’t be expected to respond rationally to banking changes in this excerpt of his January 2003 Elliott Wave Theorist:
Filed Under:
deflation
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 12:45:00 PM
Three years after the debut of his book, Conquer the Crash, Robert Prechter plainly and provocatively reiterated his case amidst the continuing pile-up of American debt in this excerpt from his August 2005 Elliott Wave Theorist:
Filed Under:
deflation
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 12:30:00 PM
Long before the collapse of well-known investment banks and insurance companies, Bob Prechter foretold such a collapse in the June 2006 edition of The Elliott Wave Theorist, advising that investors find a safe harbor in cash.
Filed Under:
deflation
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 12:15:00 PM
While many analysts were jumping for joy about a report of bullish consumer sentiment over home prices, Bob Prechter read it as a sign for a harsh reversal to deflationary pessimism:
Filed Under:
deflation
Category:
Classic Prechter
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by
Editorial Staff
9/15/2009 12:00:00 PM
Fed Chairman Ben Bernanke frequently assures the public that the central bank can successfully arrest deflation. He gave an entire speech in November 2002 titled, "Deflation: Making Sure 'It' Doesn't Happen Here" in which he said that the government can “produce as many U.S. dollars as it wishes at essentially no cost, thereby reducing the value of a dollar in terms of goods and services and raising the prices in dollars” to generate “positive inflation." See how Bob Prechter, in his 2002 New York Times bestseller, Conquer the Crash, spelled out why the Fed's strategy could lead to an outcome far different from what it expects, namely the ruin of the bond market:
Filed Under:
deflation
Category:
Classic Prechter
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The Elliott Wave Principle is a detailed description of how financial markets behave. The description reveals that mass psychology swings from pessimism to optimism and back in a natural sequence, creating specific Elliott wave patterns in price movements. Each pattern has implications regarding the position of the market within its overall progression, past, present and future. The purpose of Elliott Wave International’s market-oriented publications is to outline the progress of markets in terms of the Wave Principle and to educate interested parties in the successful application of the Wave Principle. While a course of conduct regarding investments can be formulated from such application of the Wave Principle, at no time will Elliott Wave International make specific recommendations for any specific person, and at no time may a reader, caller or viewer be justified in inferring that any such advice is intended. Investing carries risk of losses, and trading futures or options is especially risky because these instruments are highly leveraged, and traders can lose more than their initial margin funds. Information provided by Elliott Wave International is expressed in good faith, but it is not guaranteed. The market service that never makes mistakes does not exist. Long-term success trading or investing in the markets demands recognition of the fact that error and uncertainty are part of any effort to assess future probabilities. Please ask your broker or your advisor to explain all risks to you before making any trading and investing decisions.
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