Dow below 1000 in 5-6yrs says Elliot analyst Robert Prechter

Below given are collections of information about Robert prechter and only a chart I have put this is just to create awareness about a great Elliot Wave analyst. I have also Baltic Index data which shows Global trade is dwindling. Read the view for education purpose and take informed decision.

Robert R. Prechter, Jr. (b. 1949) is an American author and stock market analyst, known for his financial forecasts using the Elliott wave principle. Prechter has authored or edited 14 books, including Conquer the Crash, a New York Times bestseller. http://en.wikipedia.org/wiki/Robert_Prechter  

Robert Prechter http://www.elliottwave.com/info/prechter_bio.aspx  

Robert Prechter, an Elliott Wave technical market analyser predicts the Dow will fall to below 1,000 in a severe once in 300 years correction. The Dow, which now stands at 9,686.48, is likely to fall well below 1,000 over perhaps five or six years as a grand market cycle comes to an end, he said. That unraveling, combined with a depression and deflation, will make anyone holding cash “extremely grateful for their prudence.” http://www.nytimes.com/2010/07/04/your-money/04stra.html?_r=2  In 2002, he published “Conquer the Crash,” which predicted misery ahead. Even so, he said in 2008 that the market would soon rally sharply — then said late last year that stocks were about to fall and that the great decline would resume.

For a rough parallel, he said, go all the way back to England and the collapse of the South Sea Bubble in 1720, a crash that deterred people “from buying stocks for 100 years,” he said. This time, he said, “If I’m right, it will be such a shock that people will be telling their grandkids many years from now, ‘Don’t touch stocks.’ ”

Recollect South sea  I can calculate the motions of heavenly bodies, but not the madness of people."  http://prabhakar-views.blogspot.com/2010/05/isaac-newton-lost-million-in-stock.html  Isaac Newton, Lost $2.72 Million in the Stock Market, Still the Best Scientist

DOW (10198) Charts

Baltic freight index slides to 14-month low

LONDON, July 7 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest level in over 14 months on Wednesday due to weak cargo activity. The index, which gauges the cost of shipping commodities including iron ore, cement, grain, coal and fertiliser, fell 5.12 percent, or 109 points, to 2,018 points in its 30th consecutive decline to remain at its lowest since May 5 last year when it fell below the key 2,000 point level.

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND  Baltic index below 2000 now