Bob Prechter, President of Elliott Wave International will join Maria Bartiromo at NYSE today.
Prechter is out with the second edition of his new book, “Conquer the Crash”. He has written fourteen books since 1978.
Prechter's publisher included a list of the forecasts he made in the book's first edition when it was released in May 2002. In an eerie surprise, these have all come to past!
In a brief pre-interview, Prechter told us that he thinks the markets are now at an interesting juncture. Back in March, Prechter predicted that the Dow would make a run to the 10,000 level and the S&P would hit 1,100. His forecast was fulfilled in October. Now, Prechter is calling for the start of "another wave of the bear market," similar to what we saw in 2008.
And another contrarian prediction - Prechter is expecting the dollar to rally from here!
Still, the threat of deflation is one that Prechter is most concerned about and one that he shared with us when he was on Closing Bellback in August. He is recommending investors be positioned to make sure they don't get hurt in the next wave of deflation. Prechter's deflation call for 2010 - simultaneous declines in stocks, commodities and real estate.
Liza Tan contributed to this article.
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