Video: Q & A with Bob Prechter

Robert Prechter of Elliott Wave International sat down on November 11 with Kevin Depew of Minyanville. I am not an Elliott Waver but I respect Prechter's discipline, longevity and careful study of human behaviour and market cycles. He thinks that the market is topping out now in the bear market rally since March. He may be right. We have thought that prices have been topping out since June and so far the bulls have kept running. They could push prices further yet.
But in the end, getting the big picture primary cycle correct is “the'' most important aspect of lasting gains and avoiding market down drafts. Those looking for perfect timing have to avoid the stock market altogether; those looking to survive and thrive through all the stages of each market cycle must adopt a pragmatic, humble approach. Its not what markets make, but rather what we keep that matters most.
Watch the almost 20 minute video here. Hat tip The Big Picture blog

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