Dow 1,000 According to Robert Prechter.

Robert Prechter thinks that a stock market crash will happen. One of my colleagues forwarded his Elliot Wave projections.

dow-500

However investing on tips ( which everyone seems to want) is not healthy for ones investment pocket. One needs to put into perspective that as correct Robert Prechter was in 1987 regarding the crash…investors that heeded his calls to be short could be down almost to their last penny. The key is let the market tell you what to do. To me this is simple price action. My long positions of both the Nasdaq and Sp 500 were closed in the last several days. Even though I am totally priced based… my concerns were raised by numerous sentiment issues and VIX issues. There were multi year extremes for lows in Bearish sentiments seen in AAII as well as the CBOE had a multi year low. The typical fact is the public is ALWAYS WRONG. When the public is greedy..one should get nervous…and when the public is scared..one should be become greedy.

The wonder of trend following and commodity trading is that once one has a plan…news like Robert Prechter does not influence them either way. No one knows anymore than you. If you want to succeed in trading… have a well thought out plan..follow it with diligence and patience.

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Andrew Abraham
A.Abraham@AngusJackson.com
www.AJpartnersinc.com
www.myinvestorsplace.com
Futures trading involves risk. People can and do lose money

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