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We don’t really have waning strength yet on the hourly scale in SPX futures, but I can see the possibility. If this current rally leg (from Friday afternoon’s low around 1083) fails to break 1107 (Friday’s high) or does so on weaker RSI than the last rally, it will be a hint that the entire [...]
He said that exactly 12 months ago yesterday:
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Here he is again on November 23 last year, calling for another decline in 2010 at least as bad as 2008, as well as a bullish call on the dollar:
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And here is a video from Yahoo just a few days ago. Crappy quality on this recording, but not [...]
This is a good one from Feb 9th, from Frisby’s Bulls and Bears. Hat tip to Pej.
Click here to listen.
There has been a lot of Elliott Wave bashing this year in spite of Prechter’s late February 2009 call for a rally from SPX 700 to the 1000-1100 area, and his call for maximum levered shorting about a week ago (he called for a 100% short position at about SPX 1020 in August), as well [...]
This is from a month ago, but it is a wide-ranging discussion from a long-term point of view. Depew is a very sharp guy who saw deflation coming himself, so this is one of the best Prechter interviews I’ve seen.
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“Yes, a depression is a period that’s difficult for many many people, but it’s not the [...]
I want to offer a little praise here for Mish Shedlock, an investment advisor for Sitka Pacific and proprietor of the hugely successful blog, globaleconomicanalysis.blogspot.com. I owe Mish a debt of gratitude as one of the writers who helped me understand our credit money system and anticipate the events of the last couple of years. [...]
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Well, we’ve hit the first common Fibonacci retracement level (38.1%). We’ve now rallied 350 S&P points after a 904 point fall (1570 to 666). This is the best shorting opportunity since 12 months ago, IMO.
Source: Interactive Brokers
Nasdaq is nicely lagging, and the dollar is looking good. China could have topped already. The chatter on the [...]
We reached a point this week where almost all bears turned short-term bullish at the very least, if they didn’t swear off shorting altogether. Hordes of hobby bears were crushed over the last three weeks, and even hard core bears from before 2008 seemed to adjust their wave 2 targets upward as high as SPX [...]