Formerly Beloved Technical Analyst For Wall Street Warns Massive Market Crash Coming

Formerly Beloved Technical Analyst For Wall Street Warns Massive Market Crash Coming

Pick any Roland Emmerich disaster movie and randomly select a scene–that’s more or less what Robert Prechter, a market forecaster who was widely lauded as a technical analyst in the 1980s, says is coming to the Dow, writes the New York Times. [More]

Dow Breaks 10,000, Officially Disconnects From Prosperity Of Normal Americans

Dow Breaks 10,000, Officially Disconnects From Prosperity Of Normal Americans

The Dow broke 10,000 today for the first time in a year. Hoorays. It’s like the 90′s all over again for the very first time, only this time we’re not even going to pretend like you’re invited to the party. P.S. When you account for a 25% devaluation in the dollar, it’s really only 7,537. [ZeroHedge]

http://consumerist.com/2008/10/15/the-dow-fell-500-points/

The Dow fell 500 points after Fed Chairman Ben Bernanke gave a speech about the state of the economy. If you’re interested, the text of the speech can be found here. [CNBC]