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View Full Version : My Favorite Contrarian Indicator - Elliot Wave International!

d-day
10-14-2006, 10:27 AM
So long as EWI, Prechter, Hochberg, et. al., remain BEARISH, the trend is likely to be UP!

"Last Thursday [October 5] the NASDAQ closed at 2306.30. Today [Wed. Oct. 11] the Composite closed at 2308.20, for a gain of less than 2 points. For these days the Daily Sentiment Index recorded closes of 94% bulls, 92%, 92% and 91%. The index has made virtually no gain, but investors are so certain that the rally from July will continue that their bullish views are pinned at over 90%. When nearly everyone is already positioned on one side of the market there are not enough new buyers left to sustain the advance, providing the huge potential for a reversal."


– Steve Hochberg, The Short Term Update, Wednesday, Oct. 11
jands
10-14-2006, 10:50 AM
Are these guys that consistent? Are they wrong virtually 100% of the time?

Jim:)
AndyvB
10-14-2006, 01:46 PM
Prechter et al are not 100% of the time wrong, no one is, sometime they will be right, just might take a very long time. Prechter has been bearish a long time, as far as I know. I used to subscribe to him years ago, but no longer. Too much talk about nothing.
d-day
10-14-2006, 04:53 PM
Prechter et al are not 100% of the time wrong, no one is, sometime they will be right, just might take a very long time. Prechter has been bearish a long time, as far as I know.

A very looooooooooooooooooooooooong time! Prechter has been calling for Dow 400 since 1987.
Steve Griffiths
10-14-2006, 05:33 PM
Hi Guys,

Now you know why I developed my own unique isolation approach to EW analysis :) :)

Steve
AndyvB
10-14-2006, 09:58 PM
Steve: That's why I have been following your ideas since before you had MTP up and running...a long time....and gave up reading Prechter even a longer time ago. His letters are often interesting to read but of no value whatsoever for trading. Yours Steve, is certainly the best I have ever come across anywhere.
Andy
d-day
11-17-2006, 05:15 PM
"The one-way direction of [U.S. stock] prices and the lack of any meaningful volatility since July, is now truly historic. We await the market’s palms to start sweating and for pain to start shooting down its arm, and fervently hope it happens to it before it happens to us…"


– Steve Hochberg, The Short Term Update, Wednesday, Nov. 15