Analyst Robert Prechter predicts that the second shoe is about to drop, in fact it is already dropping.
What do we make of this. We need to keep our eyes on the road so to speak, because Prechter is good.
Reuters: Next bear market phase starting: Prechter
...this latest stock rally "is the third I think final peak..."
Prechter adhered to his earlier forecasts U.S. stocks will fall below 12-year lows hit in March 2009, with the S&P 500 index .SPX falling below 666 points as the economy worsens, and as investors' recent optimism about risky assets fades.
Prechter reiterated his longstanding advice to investors to shelter in Treasury bills until between about 2014 and 2016 when he expects the unwinding of the biggest debt bubble in history will start to abate.
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