Tuesday, February 24, 2009
Faber, Prechter, McHugh Call for Stock Market Rally
Noted market-timers Marc Faber, Robert Prechter and Robert McHugh are all calling for a significant stock-market rally.
Huh?
How could the market rally when the economic news is so bad?
Well, as I previously wrote, the market is not always rational.
Remember, even if the market does rally in the short-run, Faber, Prechter and McHugh are all forecasting a very deep depression afterwards and none of them are recommending that you buy and hold stock long-term. So this is a trader's game, not a long-term investor's game.
Note: I am not an investment advisor and this should not be taken as investment advice.
2 comments:
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Posts
add one more to the list--for today at least....
ReplyDeletenot a stock picker but couldn't resist this one--and it worked!
Julius Caesar called todays bounce in the stock market (really, he did).
who knows what tomorrow brings--
http://4best4worst.wordpress.com/
love your blog folks (it was a "best" on my blog this week) -- hope you like mine....
maximus
These are all advocates of Elliot wave theory. Building on this theory Eric Chevrette has defined the Elliot Wave Market Synchronicity Theory. It's more accurate at predicting trends than Traditional Elliot Wave with a Dow Theory foundation. This matters because he is calling for more downward pressure before the next oversold rally. Also he has been more accurate than Faber, Prechter, and Mc Hugh, as they apply Elliot wave theory from a traditional standpoint.
ReplyDelete