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    • Video: Elliott Wave’s Robert Prechter is still way bearish – We’re in a “partial recovery in an ongoing depression”; Get thee to cash!

    September 27th, 2010 | 4:02 PM | by L. Winthorpe III |

    Elliott Wave President Robert Prechter appeared on CNBC today (9/27/10).  He says that many economists have gotten it all wrong.  The recession isn’t over.  We’re in a “partial recovery in an ongoing depression.”  He says the safest bet is to be in cash.  He also said that it’s a big mistake to chase junk bonds.

    So far this year there have been 3 selling opportunities according to his technical indicators — January, April and now, into October.

    He remains extremely bearish (surprise!) over the long term ,  seeing the DJIA cracking 1000 sometime in the next 6 years.

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