07/06/10 - "Dow Could Hit 1,000:" Elliot Wave's Prechter Says
Longtime technical analyst Robert Prechter said Tuesday the Dow Jones industrial average could fall to 1,000 sometime in the next seven years. The Dow Jones industrial average stock index could fall to between about 1,000 and 3,000 points over the next five to seven years, he said in a telephone interview. The Dow unofficially closed at 9,744 Tuesday, up 0.59 percent.
"It is very clear there is substantial stock market risk," said Prechter, who urges investors to put their money in cash proxies such as U.S. Treasury bills instead. Read more.
