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To: Enigma who wrote (9311)	4/4/1998 1:15:00 PM
From: Bald Eagle	Read Replies (1) \| Respond to of 116763

<<Like Eileen G. who called the Crash and dined out on it for ever it seems. Made at least one major blunder since when she put her funds into 100% cash. Is she calling for 10,000 - I can't remember? I don't know where she stands now.>> Do you mean Elaine Garzarelli? She's bullish! That's the best contrarian indicator I've heard for a long time.

To: Enigma who wrote (9311)	4/4/1998 2:17:00 PM
From: Crimson Ghost	Respond to of 116763

Prechter was the great guru of the 1982-87 bull market. His projection of a peak at Dow 3000 was the reason many did not sell at 2700 and took a terrific beating in the crash. Will the siren song of Dow 10,000 play the same role in 1998 that Prechter's Dow 3000 forecast played in 1987. Stay tuned.

To: Enigma who wrote (9311)	4/4/1998 7:14:00 PM
From: Larry S.	Read Replies (1) \| Respond to of 116763

Enigma, Yes, Prechter was the Gospel until after the 87 crash. I was one his subscribers then and, while my memory may not be perfect, I will never forget his recommendations. I arrived home from a meeting in Europe the weekend before the crash and failed to get his hot line update in which he said sell everything. I was so tired I didn't have the patience to get through to his hot line number. Friends later pointed out that he was on TV that Sunday giving his sell recommendation to the public. I had been expecting him to say sell and would have sold nearly everything that Monday. But, I responded like a deer in the headlights that Monday. However, I felt good a day or so later (I don't recall how many) when he said buy. I put my last cash into the market. I recall that it went up for a day or so before the big crash. (Most non-subscriber's that took his advice given on TV that Sunday, failed to get his buy signal and thought he was great.) After the market hit bottom, he said sell everything; that the crash was the start of the mother of bear markets. One good call followed by two bad signals in a row does not confidence instill. I don't doubt that Prechter is very smart and that the Elliott wave theory has a lot of merit. But, Prechter left an impression on me that I will remember much longer than BreX. Many of my friends who worked on the street blamed Prechter for the crash. I believe there were WSJ articles suggesting this as well. As you indicated, he "was" considered the Gospel. Cheers, Larry Smith