The Black Box

[dieselfuel]

4 Your Entertainment. Found @ SI:


Robert Prechter - DOW below 4,000 by end 2003
April 2003 Blast from the past
Courtesy Forbes-
http://www.forbes.com/2003/04/09/cz_jd_0409watch.html

Robert Prechter, editor of the Elliott Wave Theorist, is
about as bearish as they come (as you might detect from the
title of his 2002 book, Conquer the Crash: You Can Survive
and Prosper in a Deflationary Depression). Prechter views
the stock market as a meter of mass psychology and social
mood that fluctuates in a series of (Elliott) waves found
throughout nature. The primary trend in stocks since
January 2000 reflects anger, fear, negativity and social
polarization, but occasionally yields to brief periods of
optimism, such as the rally in stocks that began a week
before the war.

"Everything is wrong with this market--volume is weak,
the breadth is poor, and optimism is way too high for this
to be a bear market bottom," says Prechter, who calls for
the Dow to finish the year below 4,000. "Stay safe
above all and keep your powder dry, so you can take
advantage when stocks rally from much lower levels,"
advises Prechter. His service recommends shorting Bank of
America (nyse: BAC - news - people ) and Symantec (nasdaq:
SYMC - news - people ), as well as buying Rydex Ursa (
RYURX) or Tempest ( RYTPX) --both of which short stocks in
the S&P 500.

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Less than 2 months to go...

or...

Prechter been talking about doom to the market since 1987,
1990, 1995 wada TIDAL WAVE UP, 1999 and here is the latest
update to Conquer the Crash

someday... at the end of the world... arma