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Along the same vein, looking up the world index, I see a series of 1s and 2s
since Oct 98, with some sort of 3 underway now. The recent drops should turn
out to be a blip in the trend.
Gwenn
swp wrote:
> Although there are many Elliotticians who spend way too much time coming
> up with new and fascinating rules about the market, I have always found
> one easy way to look at it. I have banged my head against the wall long
> enuf trying to pick tops, etc. If the recent rallies in the European and
> US stock markets are not 3rd-wave-esque, I dont know what is.
> Impulsiveness is a characteristic. I think that many of my peers, and to
> a degree myself included, have tried too much to read between the lines
> in Elliott's work. If 20% up in a couple of months on the SP500 is not
> impulsive, nothing is. I do not have the counts down to perfection, but
> there was a 1st wave after the Oct. 1998 lows, and maybe a running 2nd
> wave, with this part of a third. Suggests that at some point next year,
> we might have big trouble, but it is likely to come from much higher
> levels.
>
> Disclaimer - You can lose lots of money listening to me, but you will
> lose even more wasting time reading the stupid arguments going back and
> forth on this forum. Thank-you to Earl and a few others that are trying
> to bring us back to analysis. Oh, and the good doctor does do that too.
> Finally, my company has a publishing CTA, so I guess that makes this
> SPAM (though my work is currently only sold to institutions).
>
> EVERYBODY, have a happy, healthy, peaceful and wealthy new year!
>
> Steve
> ---
> Steven W. Poser, President
> Poser Global Market Strategies Inc.
>
> url: http://www.poserglobal.com
> email: swp@xxxxxxxxxxxxxxx
>
> Tel: 201-995-0845
> Fax: 201-995-0846
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