I want you to click this link here. In it you can watch a video of Robert Prechter's most recent visit this past week on CNBC's Fast Money show. It is truly a top 10 moment in the annals of classless television.
Forget for a moment the host who cannot even pronounce Prechter's name properly. Instead, please focus on the behaviour and treatment the market pumping, frat boy panelists on the show offer Bob Prechter.
Notice how rudely they treat him.
Notice how the speak over him.
Notice how they refuse to let him finish his sentences.
Notice how they mock his comments.
Notice their exasperated body language.
Lastly, note how classy Prechter remains in the face the frat boy antics. (being such a contrarian he might just be used to it by now)
Now really, ask yourself this. Would you expect anything less from this crew of grease balls? Seriously, if there ever was a reason to steer your child away from Wall St. a group photo of this crew Terranova, Grasso, Seymour, and Najarian would surely be exhibit A.
Listen, Prechter may be right or he may be wrong on the markets but I could not help but observe the nervous hostility by the panel to his bearish views. Geen now isn't that a shocker! Seems to me they are absolutely petrified of his message hence the attempts to marginalize and minimize his views.
Bob Prechter has forgotten more than these so called "pundits" have ever known. Remember in school the kids in class who always copied others' homework. Prechter was the kid that could and did do the homework, the characters you see on Fast Money were the one's who did the copying.
All in all, a pretty good sentiment indicator (bullish extreme?) I would think. Me thinks Prechter, who would be looking at it from just that angle, thinks the same.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".