Zeev's Turnips Patch-No Politics (ZEEV)

[Ace Hanlon]

I would not go by Prechter. His long-term record is very bad despite a few good calls.

His call for Dow 1000 strikes me as absurd barring something like a nuclear bomb going off in downtown Manhattan. The grizzly bears I respect -- people like Saville, Hussman, and Alan Newman -- talk about the bear troughing around Dow 5000-6000.

I am frankly agnostic on where the ultimate trough will be. What I am quite sure is that the recent lows will be tested again in the not too distant future -- possibly before the end of this year. And that this rally will be substantially corrected soon after the election.