Bob Prechter Discusses The Next Wave Down

One of my favorite market analysts, Bob Prechter, took some time to speak with Yahoo finance this week about the next leg down in the secular bear market, the correlations to the Great Depression, and how it all ties into the negative social mood.

Prechter's Elliot Wave Theory monthly newsletter is must reading for the serious investor.  I have been a dedicated reader since February 2009 (when they called the bottom in the stock market and said we were ready for a huge bear market rally).  Elliott Wave believes that the bear market rally is now reaching the finishing point and sees the next leg down as far worse than what we experienced in 2008.