Prepared to be scared senseless by analyst Robert Prechter who believes we could be seeing the start of an epic downturn:
Mr. Prechter is convinced that we have entered a market decline of staggering proportions - perhaps the biggest of the last 300 years.The prediction is based on something called the Elliott Wave principle and the multiplying effect of investor psychology. I'm not entirely sure if the economies of today compare with panics of the 18th century but maybe I'm in denial like the guy who says that, if Prechter is right, it's time to head for the mountains with "a gun and some soup cans, because it's all over."
Wolverines!
Extra - Ace: "Markets repeating head and shoulders pattern of Great Depression." Oh boy.
1 comment:
Hi, Viking. I came over from Stolen Thunder blog. The article you linked to is very interesting. If this guy is even a little bit right the economy is giong no where.
It sure pays to search through lots of blogs. Thanks.
Rifle 308
Texas
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