Prechter’s Predictions

I’m a man of many interests. One of which happens to be trading in the markets, and lately mostly following the markets since I’ve been occupied elsewhere.

However, an interesting voice in the market buzz is Bob Prechter. Not to worry, I’m a non-believer. Prechter is known for his utopia-like outlook of the future where the Dow will hit 500 – yes 500 – in some 10 years or so. 

This week he’s presenting us with that very scenario in his bi-monthly newsletter, backing it up with figures and the regular Elliot Wave theories all laid out. What makes it interesting is not the figures themselves but with the tenacity and sincerity this guy writes his analysis.

I’ve read a good number of analysis papers in my days, and most of them are filled with ambiguous statements and conclusions left open to interpretation. With Prechter there’s none of that.

With Nasdaq taking a 3% hit as I’m writing this, you start to think… What if that guy is right?