Many thanks for your kind comment... as far as elliot waves are concerned, contrary to DS's statement that I have 'no understanding of e-waves,' I studied elliot wave theory for a considerable amount of time some years back, but I found the theory to be just a 'theory' with little basis in fact since the forecasts are just not reliable... Robert Prechter himself has been calling a top to the DOW ever since DOW 1,000 and he publicly insisted that DOW 3,000 was the top again, and that it couldn't possibly exceed 5,000 'if it ever got that far'..... my apologies if I've offended any e-wave theorists, it is not intended, but this is my opinion.....
I think the e-wave theory has great cerebral appeal and it has a language all it's own which lends to its exclusivity or fraternity, but I rely on more accurate and immediate indicators that work for me which I believe are more 'hands on' and more significantly fine tuned.....
I can only look around one corner at a time, and as a result, I have no clue about what the market will likely do in the coming days... more immediately, my work tells me that we've seen a significant low last week and that there is a high degree of probability of making new highs in all the major averages soon enough... longer term, the integrity of the bull market is still intact...
I don't tell the markets what they should do, I just follow them and am grateful when I make a few bucks... meanwhile, I'm long stocks, bonds, and crude oil.....BWDIK
My Best Regards.
GZ |
