Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: roguedolphin who wrote (97529)	5/15/2009 10:14:14 AM
From: maxncompany	Read Replies (1) of 116555

I agree we are not in a new bull, how far down we go I don't know, though. Having said that, though, I no longer assign any credibility to Prechter. For years he kept saying gold would fall back to $200. Fine. But as time went by he kept ratcheting up his target where gold would top out (because his previous targets kept getting taken out and going higher) and fall back all the way to $200. After a while it became clear Prachter was allowing his ego to dictate his ever changing gold target where gold would top out and fall back to $200. God forbid he should admit to being wrong, so instead he just keep pushing the turnaround top target ever higher. Having stopped following him, I don't know if he ever published an "I'm wrong about the $200" admission. He may have. And it appears from the article, while he expects gold to fall, I no longer see a projection of $200. But he hung onto that projection for so long, and more importantly, kept changing his top in gold to "fit" his $200 prediction I no longer see him as credible.

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