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To: KJ. Moy who wrote (15642)4/9/1998 11:27:00 AM
From: Arthur  Respond to of 29386
 
Off Topic

As far as Elliott Wave, a friend at work subscribed to Prechter's
newsletter until recently and I used to read them and some of
his books. My problem with Prechter is he tries to fit the data
to his theory of a coming economic collapse/depression instead of
just doing wave analysis. I have seen other Elliott wave writers
predict huge gains ahead. My feeling is that Elliott wave analysis
works fairly well in a normal stock market cycle, especially for
calling market bottoms, but the problem is we have now moved from
a normal cycle to a mania (like Japan in late 80s) and I don't
believe Prechter or anyone is going to be able to call the top in
advance.

Art



To: KJ. Moy who wrote (15642)4/9/1998 1:19:00 PM
From: Craig Stevenson  Read Replies (2) | Respond to of 29386
 
KJ and Steve,

Thanks for your responses. I'm still not sure what side to take in the technical analysis debate. It certainly appears to be a good indicator for predicting the past <g>, but as far as the future goes, I'm not so sure. As far as Mr. Plonk's market correction prediction goes, I've decided to stay on the sidelines for the most part, until I see how it turns out. Better to be safe than sorry, at least in my case.

Craig


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