Thursday, May 14, 2009
A much bigger bear market than most people realize, something along the lines of 1929-1932
Reuters: Stocks still face deflationary collapse: Prechter
Longtime technical analyst Robert Prechter, who forecast the 1987 stock market crash, predicted this week that U.S. equities may plunge to half their lows hit in March as a deflationary depression bites.
Posted by devo @ 11:40 PM (630 views) Add Comment
7 Comments
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1. stillthinking said...
Hmm. Perhaps he shouldn't have stressed the optimistic aspects so much.
2. sneaker said...
No disrepect, but it's been the same forecast since 1987.
Great theories, not so great on the timing.
Be aware, but don't swallow it whole.
3. devo said...
This Depression is increasingly being compared to the economic downturn of 1929, yet we haven't seen any obvious capitulation in the FTSE or Dow, so far.
Perhaps it really is different this time.
4. Tdelempicka said...
This Depression is increasingly being compared to the economic downturn of 1929, yet we haven't seen any obvious capitulation in the FTSE or Dow, so far.
so just the same as 1929 then, we're only 18 months in, it took years for the DOW to reach a bottom in the 30#s with many dead cat bounces in between, just like it will take years this time aswell
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6. will said...
1929-32 Bear Market lasted over 1000 days.
So far Markets have declined over 600 days.
So a further 400 days seems plausible.
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