Bob Prechter: “Cover your shorts” (edited w/ new video)

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 unwatchable. He shows that mutual fund cash levels are at record lows, meaning managers are “all in.”
Also, individual investors have piled into municipal and corporate bonds, which are awfully risky at these prices.