Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Vitas who wrote (15545)	4/5/1998 7:59:00 PM
From: Bull RidaH	Read Replies (3) \| Respond to of 94695

Vitas & Bearshark, The Bradley Turning Point indicator you mentioned predicting April 14th can easily be reconciled with the April 7th date that myself and others such as Jerry Favors are using. Both dates, give or take a day, will be significant turning points, with the April 7th timeframe marking the shortterm high, and April 14th timeframe marking the mediumterm low. I view your April 14th date, Vitas, as further confirmation that the 7.5 trading day market collapse scenario beginning late Monday is indeed accurate. Bearshark, I have closely studied and scrutinized all of Favors work over the past 9 months, and find that in general, he has a great toolbag, and makes many pertinent calls. However, I examined the way in which he analyzed the corrective pattern occurring from last August through last November, and believe that without a doubt, he has read things into it that just weren't there, taking Elliott Wave Analysis way too far into left field. Proof of this error was the fact that he was improperly positioned through much of the January rally, and didn't turn officially bullish until the 990 area was taken out on the SPX, costing his clients quite a bit I'm sure. And this improper analysis will definitely come back to haunt him in the future, as one error in Elliot Wave Analysis Begets many others. But how would I rate him compared to the other well known market timers, such as Gene Inger, Bert Dohman, Tim Ord, Ralph Encampora, etc.etc.? #1, and definitely the most meticulous, although I would give Gene Inger top ratings for his ability to trade short term moves, although his big picture is often wrong due to his weakness in applying Elliott Wave on the larger scale. As far as Favors calling for 8600 to hold in the upcoming drop, I think he probably means to point to that number as crucial support, and as that number gives way, the door will be open to much lower support levels. He is good at identifying support levels, but not capable of predicting at the start of a move as to how far that move will go, and which support level will finally stop the move. That's a set of tools that I have not seen him utilize. Now he WILL be able to give you a timeframe to look for a bottom of this move,and I'll bet you a dollar to a dime that his call will be for the April 14th to 16th time frame. Hey, isn't this about the time alot of folks will be looking to sell some equities to pay Uncle Extortioner?