Elliott Wave International CEO Robert Prechter appeared on Bloomberg earlier today. Here’s what he had to say:
“I think it’s a great time for people who turn bullish in the first quarter to get out of the stock market… we’re now in territory where you need to think about lightening up stocks, even getting short. I think 2010 is going to be a big down year very much like 2008.”
He expects the dollar to go up throughout 2010 with most of the financial markets falling.