NASDAQ 3157.(?)
**gem-x's incredibly accurate Elliott Wave forecasts.**.
Subject 51336
Think of the March 2000 to Sept 2001 bear market this way.
The huge bubble leading up to 1929, the great crash of 1929 and the great depression of the 30's is similiar to the NASDAQ.
Both huge bubbles, as a result of incredible innovations.
Think of it this way, the possibilities of the internet have yet to get tapped into...all the internet and dotcom failures, optics, etc...it's not like we won't learn from these mistakes. During periods like this, when we all fear for our lives, our futures, and if we'll ever see prosperity again, people go back to the drawing board, smarter than ever. We've gained new smarts and a large amount of experience.
I won't even begin to explain what happened to me the past couple years...I was making up to $30,000 a month in profits on eBay before the insane sports card market collapsed, so I had to ditch it, and figure out new ways to make money. I got slaughtered like a lot of people did when the market crashed in March 2000, (Ever had a margin call on a stock that dropped from 298 to 115 in a week? I'm still waiting to claim my money from lawsuits against Terayon.). I had no clue how to use technical analysis, or even had a clue what the hell the Elliott Wave was...I invested blindly like every other mom and pop did... but I gained a huge amount of experience, a new killer instinct, and skills that would pave the way for a bright future. I was essentially, a dot-com baby, but now a dot-com teenager who refuses to die. I'm sure there's a lot of people like us who refuse to quit.
We have yet to implement all the possibilities that the internet can deliver, just like in the 1920's and 1930's...and when we do, a bull market similiar to 1942 to 1962 that rose from the bottom in 1934-1935 could rise.
All the speculative excesses, moronic dotcom business models, and over expansions has been drained completely.
Now that we have the Fed AND the government on our side, all these pro-growth policies and huge economic stimuli..
In 99-2000, it was the exact opposite.
I don't want to go more in depth with this, because I can get more and more into this, but you get the idea.
But what really gives me hope for a long and incredible new bull market is in the wave counts. I know it sounds crazy, but the wave counts can read and forecast the future.
So far, the NASDAQ is acting like the way the DOW did when it started it's incredible rise from 41.22 to DOW 1000 and eventually DOW 11,908 in 2000. In the years that followed the great depression, the DOW rapidly rose from 41.22 to 196, retracing exactly .618 of it's drop from Wave B to Wave C. If the NASDAQ follows the same pattern, it could retrace the same length pretty quick to 3157. But when the DOW rose to 196, another awful period developed, and the DOW dropped to 98-100 in 1942, which was "the" retest of the lows, and than rose from 98-100 to 1000. 1000%.
If the NASDAQ does reach 3157, than that's when I'd be short. That would be the retest of the lows. 3157 to 2000-2063, forecasting a couple years into the future.
There's thousands of potential Ford's, GE's and AT&T's that are completely decimated, but with people who refuse to quit.
If this is what the waves are telling us, and telling me, I have hope.. |
