Prechter Advises ‘Closing Shorts’ on U.S. Stocks

Bloomberg reports:

Elliott Wave International Inc.’s Robert Prechter, who advised shorting U.S. stocks three months before the bear market began, said investors should now end those bets following the recent market sell off.

Prechter, chief executive of the market forecasting firm, warned in this month’s ‘Elliott Wave Theorist’ that a rebound in stocks could be “sharp and scary” for anyone who is so-called short.