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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 670.21

-1.1%

Nov 6 4:00 PM EST

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To: SBerglowe who wrote (40877)	2/21/2000 9:09:00 PM
From: pater tenebrarum	Read Replies (2) of 99985

o.k., for those who don't know who Prechter is, he's the man that popularized the Elliot Wave Theory. he used to have a big following and among other feats predicted the rally from '82 to '87 as well as the '87 BK. however, he's been wrong now for years, calling for THE top many times - in vain. notably he has recently raised his Dow target to 13K after years of extraordinary bearishness. he believes we are on the cusp of the end to the Grand Supercycle Wave III...if that's true a comet will probably hit the earth, as this would imply at least 200 years of bad times lie dead ahead. i can't really identify with his mega bearishness...it's a bit too dogmatic for my taste. however, he is a keen observer of the mania and the nonsense it has wrought. hb

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