Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

"Dollar Hits the Major Bottom" : Robert Pretcher

45 sec read

Robert Prechter, president of Elliott Wave International, the man who correctly predicted the 1987 crash and last year's peak in oil prices now says we're "going to be up for a year or two in the dollar."
 
Prechter points to three factors:

The Elliott Wave Pattern: Without getting too technical (for your sake and mine) Elliott Wave Theory looks at markets cycles in terms of wave structures that come in five parts. Five waves up followed by five waves down. Well, according to Prechter's research the pattern confirms we recently hit the fifth wave down. Next stop: up.

 

Sentiment has reached an extreme: "The Dollar Sentiment Index for the Dollar Index reports just 3% bulls among traders, an extreme level only five times in the past 20 years, usually near an important low," Prechter wrote on Aug. 5. "The last time we saw readings like this was March-July 2008, just before the dollar soared." In other words, the  "short the dollar" trade is overly crowded.
 
The biggest risk to the economy is deflation not inflation: As he lays out in his book, Conquer the Crash, Prechter thinks the bursting of the latest bubble will lead to a major economic depression.
 
 
Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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Larsen and toubro update

  Trailing Stop Loss Update for Larsen and Tourbo   Cover Shorts and reverse the position if LT closes above 1665. Source: www.marketcalls.in
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JP Associates is getting Weaker

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One Reply to “"Dollar Hits the Major Bottom" : Robert Pretcher”

  1. This guy is a total fraud.

    He’s been consistantly bearish on stocks since june 2009, during which time the market has rallied about 50%. 900 to 1350 on S&P500. It doesn’t matter if he’s ultimately right, anyone trading his advice on leverage is more than wiped out by now.

    Furthermore he has this massive deflation scenario that he’s published books about and been preaching about since 2008, during which time the commodities have gone to the moon, silver is up nearly 300%. Copper more than 200%, Gold double, Oil 300%, etc. etc.

    Again it doesn’t matter if he’s ultimately right or not, he’s not made a single correct call and worse, his advice is totally around the wrong way. Even if you were just sitting in cash waiting for a short entry signal, you’ve just missed some of the most amazing runs higher.

    He’s a classic example of why some of the best traders like Jesse Livermore said that its absurd to be bullish or bearish… you lose your opinion not your money. You make money when it goes up and when it goes down and timing is everything. You can’t just pick an opinion and preach about it like Pretcher….. the broken clock who is right once a decade…. that’s rubbish…..

    Worse still he changes his tack all the time. Most of his analysis is backwards looking. He’ll predict a market top, and then 3 months later when he’s wrong all those charts and articles will disappear from his website and he’ll show you how he predicted the market would run higher still. Elliot Wave with 20.20 hindsight vision… Its a shame you can’t place orders with hindsight isn’t it Mr. Pretcher. ?

    Hey Bob…. when was the last time you actually traded your own advice ? Can we get a copy of your brokerage account records, audited by a CPA. What about a paper trading spreadsheet of all your calls ? How much are you down by since 2009 on paper…..never mind real trades… just on paper…. with your giant bearish, deflation theory and the commodities markets running more than 100% in your face and showing no sign of abating ?

    What stocks are you short Bob ? Proud to be bearish, but the market’s barely sneezed in more than 2 years….. yeah…. what a great prediction…. I’d be proud to put my head up my own a33 if I were you…..

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