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Strategies & Market Trends : The Stock Market Bubble -- Ignore unavailable to you. Want to Upgrade?

To: Moominoid who wrote (1110)	8/13/1998 11:29:00 AM
From: Les H	Respond to of 3339

Robert Prechter was quoted in one the journals, Barron's I think. He's predicting this is the end. He had a series of targets leading to 1000. See below. Nonsense, asserts Robert Prechter, the el supremo guru of the 'Eighties, whose Elliott Wave technical system has caused him to fire mostly blanks in the past decade. In any event, he claims that a bear market has begun that pushes the Dow below 4000, perhaps by the end of December. And before the bear market finally bottoms out in 2003 or 2004, a nuclear winter will descend on Wall Street, sending the Dow reeling into the realm of "triple digits" (i.e., below 1000). "Markets move on predictable waves in mass psychology and not policy mechanics," he asserts. "Thus, one should get ready for the biggest bear market in our history." New Orleans market-letter writer P.Q. Wall, who recently turned bearish after playing the long side of the market for much of the year, is equally gloomy. "Man is mere unwitting actor in a dumb show ruled by merciless economic cycles beyond his control. Get ready for a stock market that will deliver repeated lashes to investors over the next five or six years on its way to under 1000," says Wall, not one to mince words.