Arik, thanks for your detailed postings
The problem that I have with Ellioticians, is less their espousal of the theory--which has some bearing on mass investor psychology--and more the fact that every one seems to interpret it differently.
Prechter, the ordained high priest of the theory in the 80s, was running on all cylinders until he blew a gasket in 1989 or was it 1987--and became bearish ever since--though I understand that in April he turned bullish again --- 5000 DOW points later!! Now Don Wolunchek(sp?), cites the theory to say that the DOW should reach 11000, this year and then even higher next year. He incidently is rated the top timer for about 2 years. He says that we are close to the epi-center of primary wave three and when we get there the acceleration that will occur will make what we have seen to date, will be child's play. Glen Neely, another Elliotician of sorts, says that Don W was a bit early with his call about reaching the epicenter of primary wave 3 but that we are now there or close to being so.
You on the other hand, see the end as being close to being reached.
So, will the true Elliotician, please stand up. |
