Mr. Prechter, 61, lives in Gainesville, Ga., where he runs Elliott Wave
International, a forecasting and publishing firm. He graduated from Yale
as a psychology major in 1971, dabbled as a singer, drummer and
songwriter in a rock band and became a technical analyst for Merrill Lynch.

Never heard of the guy myself. But on a day when the market was up a
whopping 275 points to back over 10,000 it only makes his catastrophic
predictions sound like the work of a crackpot. I follow the market all
the time. I've never heard anyone predict it to go to 1,000. Of course,
I've never heard anyone predict the Dow at a million either. As with all
statistics you throw out all the outliers at both ends. So his
prediction makes a distinctive thunk as it hits the trash can.

Hawke