Go to Jeff Salisbury LWGate Home Page.From: Spencer48@aol.com
Subject: Re: [CANSLIM] M....Look Out Below
Date: Sun, 23 Jun 2002 15:32:12 EDT
Next Article (by Date): Re: [CANSLIM] LLUR pattern Spencer48@aol.com
Articles sorted by: [Date]
[Author]
[Subject]
Patrick:
I agree with you with qualifications. However, I believe the Elliott
Wave Theory in general terms is a nice theory (and in many cases, even in
individual stocks, it seems to work-mainly because it proxies itself as a
psychological indicator (only, instead of using numbers-it uses charts). For
instance, an elongated Elliot Wave 5 illustrates the rabid greed of the
investor. That's why the wave, instead of ending, keeps going up: Demand is
prevalent-and it shows in rising prices.
That said, I have read many times that Elliott Wave Theory is Fantastic:
But only AFTER the fact. In other words, Elliott Waves are only apparent
after the stock has made its move. Then the Wave theorists can say, no
matter what the stock does, that the stock has moved according to some
esoteric Elliot Wave Concept. As an example of this, waves are categorized
as complex, flats, zig-zags, etc. As I said, many times Elliot Waves are
helpful in my understanding of the trend-but I always use my interpretations
of WON and other tech. indicators to confirm the trend. Also, once Elliot
Waves helped in forecasting the trend, you can project what the stock will do
in the near future.
jans
In a message dated 6/22/2002 12:33:37 PM Eastern Daylight Time,
pjwahl@attbi.com writes:
<< Here is a great quote from that article -
Without intending to cast aspersions, it seems that these big-wave theories
seem to appeal more to well-meaning eggheads than to demonstrably
successful investors. World-altering economic and psycho-social patterns are
easier to observe in retrospect than to forecast. The mathematical certainty
that appears to attend cyclical waves in the past tend to dissolve into
uncertain
subjectivity in the present.
>>
- -
- -To subscribe/unsubscribe, email "majordomo@xmission.com"
- -In the email body, write "subscribe canslim" or
- -"unsubscribe canslim". Do not use quotes in your email.
Next Article (by Date): Re: [CANSLIM] LLUR pattern Spencer48@aol.com
Articles sorted by: [Date]
[Author]
[Subject]