Prechter: Wall St. Setting Investors Up
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November 6th, 2009 by AdvisorAnalyst
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Robert Prechter, Elliott Wave Theorist, tells Yahoo TechTicker:
“Everybody who’s saying ‘buy stocks’ today or ‘buy real estate’ is, I think, setting up people to get really hurt,” says Prechter, who believes the bear market rally is reaching a major top.
“We had a great opportunity at [S&P] 667 - that was the big opportunity,” says Prechter, who did make a bullish call last February. “The market is up 60% [from the March lows]. There’s no way the S&P is going up 60% from here.”
Watch the video here:
Source: Yahoo TechTicker
Read more from the author/contributor here.
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Tags: Amp, Barry Ritholtz, Bear Market, Benefit Of The Doubt, Bias, Bull Market, Ceo, Fusion, Innocent, Iq, Money, Rally, Stocks, Target, Ticker, Yahoo, Yahoo FinancePosted in Markets |
