Don - In response to your comments to Ratan cautioning him about following anyone (PLONK) too closely - and believing in them too much - I have to say that I, for one, fell more in Ratan's camp than yours. We all read SI so as to get a greater understanding of the markets. I confess to being led along by PLONK's strong and enthusiastic comments of the market's tanking as well. This is the perception that PLONK has relayed to all of us. This, perception leads us to believe that PLONK, through his counting of Elliott Waves, can predict the future. We all KNOW that this is not possible, but deep down inside, with the markets as complex as they are, we want to believe that someone can - so, we give them the benefit of the doubt and then that leads to action. And, it appears, that a lot of PLONK's followers, who hold April puts, are about to get burned now.
I wasn't taken in by PLONK's rhetoric but I surely can empathize with those who were. I was taken in by Bob Prechter in Jan-Feb 1984 and vowed it would never happen again. I sure am glad I stopped following his advice after Feb 1984!
Good luck to all of us in this unbelieveably crazy market! Skipperr |
