08/10/11 - Bob Prechter: U.S. Stocks Are in Bear-Market Rally

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Home > Commentary > Elliott Wave International > 08/10/11 - Bob Prechter: U.S. Stocks Are in Bear-Market Rally

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08/10/11 - Bob Prechter: U.S. Stocks Are in Bear-Market Rally

Robert_Prechter_80x100

By Tom Keene (Bloomberg)

The advance for U.S. stocks since a 12-year low in March 2009 has been a bear-market rally as the economic recovery has faltered, according to Robert Prechter’s Elliott Wave International Inc.

“Part of the proof that it’s a bear-market rally is the fact that the economy has really stayed in the dumps,” Prechter said today in a radio interview on “Bloomberg Surveillance” with Ken Prewitt and Tom Keene. “Mostly we’re in cash. The only other things I recommended recently were bear funds and short sales,” he said. “I’m staying completely safe right now.” Read more.

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