Is it a concern when a long term super bear all of a sudden begins calling for new highs? Even when those new highs are part of coming ‘Armageddon’? Because EWT is now calling for that!
Hochberg is now calling for new highs (of course, the odds favor that outcome. The market is in an historic bull advance).
But for about 10 months straight, in the face…Continue
Elliott Wave International: Short and simple
I am not sure they fully understand that for most people, the purpose of the markets is, quite simply, to make money. An indication they might not share your goal (or any trader/investor’s goal) is they never provide practical guidance for trades.
For them, it seems that the more arcane the analysis the better. That seems their purpose. Not making money. In fact, they apparently are so disinterested in making money,…Continue
Added by John on November 30, 2020 at 7:47pm — No Comments
Robert Prechter/Steven Hochberg write a market update Monday, Wednesday, Friday.
The US stock market is open 6.5 hours per day, so they ‘update’ three times in a 33 stock market hours week, every week. Or approximately every 11 hours.
From March 2020 to November 2020 occurred one of the strongest bull market advances in the US stock market in decades. It was a highly persistent,…Continue
Added by John on November 19, 2020 at 7:00am — No Comments
Robert Prechter was named guru of the decade by FNN (the CNBC forerunner) in about 1989. Prechter made excellent market calls from the late 1970’s through 1987.
Since then, he has been consistently wrong. Wrong for over 30 years (3 decades!). Not just wrong on the stock market, passionately wrong. Now, there have been 4 very significant bear markets from 1988 onward, and because Prechter = bearish, he was bearish in front of them. But he has been bearish for over 30…Continue
Added by John on November 11, 2020 at 6:51am — No Comments
When the Elliott Wave Theorist (subscription service, pay to get your advice) issues a market opinion, I imagine Jimmy Cagney holding a machine gun at your head saying "you dirty rat". Then firing dozens of bullets.
Why this imagery and comparison? Imagine you want to kill someone financially (and demoralize them too!). How would you do it? Well,, the way they do it is a pretty good model. Make very strong impassioned arguments against the large trend in force so that people bet…Continue
Added by John on July 30, 2020 at 5:00pm — No Comments
Robert Prechter and EWI are in the business of providing market forecasts in exchange for subscription fees. The main markets they seem to cover are the stock markets, interest rates, precious metals, and the US Dollar.
Amazingly, they manage to get every single market’s major trend wrong consistently.
Wrong on the stock markets, bonds, gold, silver, the US…Continue
The service is called SHORT-TERM UPDATE (updated 3 X per week).
EWI and Hochberg have missed every important stock market rally and precious metals rally in the past 5-6 months (as of July 2020).
Actually, it is much worse than that, they have actively been on the wrong side, meaning they have been extremely bearish during these trends.
Comments such as 'it's time for gold to top', and similar comments like that, are understandable in people…Continue
Added by John on July 22, 2020 at 8:56am — No Comments
Steve Hochberg at Elliott Wave Int'l is really a useful lesson in how NOT to approach (or trade) markets. Here is what I mean. He and the service (Short Term Update & their monthly report) are extremely bearish, and that has been true for nearly ever, and especially from the March 2020 lows.
He has been harping on sentiment indicators for months (almost from the lows in late March 2020 too,…Continue
It is remarkable the disrespect the Elliott Wave Theorist’s Steven Hochberg shows to the markets (and by extension his clients).
Gold has been in bull markets for many months (4 + years) and they (EWT and Hochberg) have been bearish for a good % of gold’s price advance. Accompanied by a high degree of confidence.
Sometimes after gold rises above Hochber’s previously identified ‘The High’ or (the 5th of the 5th (etc), destroying his analysis, he will then say ‘we wait…
Added by John on July 9, 2020 at 7:28am — No Comments
What I am amazed at is the lack of a serious trading approach. No stops, no possibility they could be wrong, full on extremism in the call for a drop in the market dead ahead (and it's been like that for a long time). They suffer from a complete lack of objectivity. For them, nothing (or practically nothing) is or has been bullish in many years. Every market event is seen as bearish, every social feature is seen as bearish. They seem to practice a cult like message - we are the ones who…Continue