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
Added by John on July 25, 2020 at 7:58am — 3 Comments
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
Added by John on July 15, 2020 at 4:47pm — 2 Comments
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
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