To: Gary105 who wrote (88088 ) 6/18/2009 7:35:31 AM From: GROUND ZERO™ Read Replies (2) | Respond to Let me begin with a little history about who Robert Prechter is... about 30 years ago Robert Prechter claimed the DOW will top out at 4000 and will never rally above there ever again, he was obviously wrong, and he has been calling for the top all his life and ever since, he has always been proven wrong as the market makes new all time highs after each economic downturn... his work is based on his elliot wave theory which has long since been debunked, although there are still a huge number of people who like to use that method... if you listen to them talk about these waves, you'll hear them discuss and debate among themselves about how a wave should be labeled this or that, they never seem to agree on anything, although they claim to have rules... they can talk about where the markets have been, but never where it's going, they offer absolutely no time frames or price levels in advance of the market...... I find it to be a primitive and pseudo intellectual approach to market timing, now that might piss some people off but I'm being very candid here...
