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Strategies & Market Trends : Classic TA Workplace
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To: At_The_Ask who wrote (59832)11/19/2002 7:31:59 AM
From: Moominoid  Read Replies (3) of 209892
 
I've glanced at the free stuff from www.elliottwave.com.

They are still unbelievably bearish with wave 3 of 3 of A of A of the huge triangle bear market that we are supposedly in just getting underway.

I know the logic of this but it is just very hard to see how anyone can justify a call for Dow 400. That is near the 1929 peak value. Since then the following has happened:

1. Prices have risen probably 10-20 times over
2. The US population has tripled or more
3. GDP per capita similarly

I guess counterbalancing that the Dow 30 companies maybe represent less of the economy than they did in 1929.

But even substantially partly reversing 1-3 would be pretty much inconceivable without a nuclear holocaust or the like. I guess they say "US survival is at stake". No kidding!

My point is that this long-term E-Wave analysis would seem to require at least some adjustment for these factors.

Any opinions?

Moomin
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