Two views for Independence Day 2010

For the bulls.  I'd like to believe.

For the bears.  I'm afraid this is closer to reality, though I have not moved my own portfolio to cash.  I probably should.

For a brief few moments back in the 80s, I was a bit of a Robert Prechter fan.  The notion that one can decode "hidden mathematics" behind market movements is one I find seductive. 

However, when I learned from the Times article that Prechter is channeling Hari Seldon and is trying to really create Isaac Asimov's psychohistory, renamed socionomics, well, I think my growing skepticism is vindicated.