Prechter Advises Closing Short Positions on Stocks:
By Sarah Jones
Feb. 24 (Bloomberg) -- Elliott Wave International Inc.’s Robert Prechter, who advised shorting U.S. stocks three months before the bear market began, said investors should end that bet after the Standard & Poor’s 500 Index tumbled to a 12-year low.
Tuesday, February 24, 2009
re Prechter view
Prechter was "a former rock-and-roll drummer"? I know that he is a Yale graduate -- and as one of my nieces, He must saw my apocalype preaching. He is at Gainsville, GA while I am a grad from Gainesville, FL. He and I held opposite view since 2004 when many were preaching market crash at that time. That changed since Oct 2007, and then, I was saying the bears right. But now, it's over - apocalypse now. Considering all surrounding financial and economic circumstances, it is a good thing that those bear dougs are trying to resuscitate dying mainstreet. By the way, Elliott invented a valuable wave principle and Prechter further developed it well; however, neither of them dealt with a key factor. That's my open secret.
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