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That is kind of like what I was trying to say. While Prechter has had
some real bad calls for the very big crash picture, he has also had some
good bullish and bearish calls.
Ira has the right attitude. He is a trader, not an analyst. I am more of
an analyst. He can hate the market or not, but he follows what the
market is telling him to do, and not what he thinks the market should
do!
---
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
----- Original Message -----
From: Ira Tunik <ist@xxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Cc: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, February 14, 2000 11:53 PM
Subject: [RT] Re: Jim Stack in Barron's
> I have hated this market for over 2 years. I can see no reason for it
to be
> trading where it is right now. I can give you many reasons to sell
this
> market, only one, greed, to buy it. That does not mean that, as a
trader, I
> can't trade both the upside and the downside of this market, and the
stocks
> or futures that make it up. That is what trading is all about. I
don't
> know prechter, I have never read his letter, but I believe that he has
> recommended both buys and sells in this market, even though he
screams,
> watch out the sky is falling. The system that I use always gives me 2
> trades. One up and one down. I am very seldom surprised. It does
happen
> though. Ira.
>
> swp wrote:
>
> > I guess being an Elliottican, and knowing Bob Prechter a bit, makes
me a
> > bit sensitive to such statements. I agree 100% that Bob has been way
off
> > on the nature of the stock market's declines, but you should also
know
> > that though the degree was wrong, he nailed the top in 1998 to the
day,
> > as well as the start of the correction in the summer of 1999. I know
> > that he has been looking for a crash forever, and I do not know why
he
> > does not see a different wave count. Last I heard, he was looking
for
> > Dow 13,000, by the way, although that was in mid-January.
> >
> > Several other Elliotticians that I know believe that the Dow has
topped.
> > I am less sure, but the next 30% move in the Dow, IMO, is down and
not
> > up. For now, I am guardedly bullish, from slightly lower levels.
> >
> > As for a crash, if you read Alan Greenspan's comments, he is
concerned
> > about the risk of one too (he has several times opined that the
stock
> > market chart looks a lot like every other bubble that there has ever
> > been).
> >
> > Steve Poser
> >
> > ---
> > 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
> > ----- Original Message -----
> > From: Levent Erbora <erbora@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Monday, February 14, 2000 7:36 PM
> > Subject: [RT] RE: Jim Stack in Barron's
> >
> > Jim has discovered one of my favorite indicators :-)
> >
> > Not only that, but when one of these dinosaurs get excited enough to
> > wake up from their hibernation and scrape up enough money from
whatever
> > is left of their struggling businesses to cough up for some
quarter-page
> > advertising in financial media, in a desperate and shameless
last-ditch,
> > one-more-time-and-maybe-this-time-I'll-nail-it
attempt............boy,
> > is that a bottom or a bottom !! :-)))
> > Prechter and Eliades get the top honors. Don't forget the other
clowns,
> > P.Q. Wall and Eric Hadik.
> >
> > Happy trading,
> >
> > Levent Erbora
> >
> > -----Original Message-----
> > From: Jpilleafe@xxxxxxx [SMTP:Jpilleafe@xxxxxxx]
> > Sent: Sunday, February 13, 2000 4:36 PM
> > To: realtraders@xxxxxxxxxxxxxxx
> > Subject: [RT] Jim Stack in Barron's
> >
> > Whenever there is a good setback for stocks
> > I keep an eye out for one of the remaining
> > perma-bears (Eliades, Precter, Stack, etc) to
> > be featured on CNBC or in the media,... as
> > their appearance tends to coincide with key lows.
> >
> > Notice on today's Barron's (page 3) in Ableson's
> > column...the work of Jim Stack "the estimable
> > proprietor of InvesTech Research" is mentioned.
> > Stack has been bearish for a very long time,...
> > reference to his work here is suggestive to me
> > that a near term low is likely.
> >
> > Any comments appreciated.
> >
> > Regards, JIM Pilliod jpilleafe@xxxxxxx
>
>
>
>
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