The meaning of the words greed and fear and hope do not change but
the
basis for them does change. For instance. In 1929 men were
terrified of
losing their jobs and their main hope was to have a job
they could keep
for the rest of their working life. People purchased
what they could pay
for out of pocket and buying things like home
appliances on credit was
unheard of. You had what you could pay for
and if you couldn't pay for it,
you couldn't afford it. As mentioned
earlier, the working class were
mostly not in the markets and cared
little about them. There was a higher
degree of honor among people
and by businesses. Success in life was
measured by providing a roof
over your families' head, food to eat and
clothes to wear. Multiple
autos, boats, vacation homes, the latest
inventions and retirement
accounts were for the rich. Compare those times
with today. Compare
the thinking of Americans then with the thinking of
Americans
today. Compare the practices of people then and now. Compare the
honesty, honor and integrity of people then and now. Compare the
financial responsibility of people then and now. Compare waiting for
what you want until you can afford it with having to have it all and
have it now attitudes present today. People job jumping just to make
a
few more dollars. Today is about today, yesteryear was about
tomorrow.
Now, tell me that all those things above do not affect the
stock
market. Tell me that the vastly different attitudes about life and
money do not affect what reaction people had then and have today to
the same situations .. the same news... the same circumstances. Add
in
the fact that a large percentage of the working class are in
today's
markets through mutual funds or even directly. Factor all of
these things
into the mental perspective of the average investor then
and now and tell
me you don't think it changes the meanings of the
words fear, greed and
hope. Those words are totally redefined and so
are the results they bring
about in the markets. Charts showing what
the investor class did 80 years
have little to do with what people
will do today. Even if the
circumstances are the same. That is why
someone like Ira uses his 35 years
of experience to buffer, mitigate
and massage his tech
work.
Bob
At 11:32 PM 2/22/2008, you
wrote:
>Bob,
>
>In and thru all those changes that you spoke
about from 1929 thru
>today, one thing that does not change is the
human nature of greed
>and fear and hope and anxiety.
>All our
actions are as a result of our thoughts that emerge from
>emotions
created by desires at our intellect levels. This can never
>change
whether we are trading stocks, bonds, commodities, mutual
>funds or
ADRs......and it will ever remain thus.
>This is how the past repeats
into the future.
>
>Dr.Narayan
>
>----- Original
Message -----
>From: RB <rhodes@xxxxxxxxxxxcom>
>Date:
Saturday, February 23, 2008 11:40 am
>Subject: Re: [RT] Download Free
Elliott Wave Theorist (normally
>priced at $29)
>To: realtraders@yahoogroups.com
>
>
>
> > I would have to agree with most of this.
> > I also
had the understanding, that the Elliott Wave Theorist over
> > all
had a fair to good track record, when compared to offer
> >
newsletters-gurus as far as their recomendations.
> > As far as
the predictions. I would think theirs would be like
> > most. Not
very usefull at all.
> >
> >
> > ----- Original
Message -----
> > From: Ira
> > To: realtraders@yahoogroups.com
>
> Sent: Friday, February 22, 2008 12:17 PM
> > Subject: Re: [RT]
Download Free Elliott Wave Theorist (normally
> > priced at
$29)
> >
> >
> >
> > In every profession
there are people that get stuck in their own
> > belief system and
can make what ever they see conform to what they
> > want it to look
like. As for history not repeating itself, I will
> > have to
disagree with you. All technical analysis is based upon
> > the fact
that certain things continue to happen with a great
> > degree of
consistence. That is what make technical analysis work.
> > The thing
that gets in the way is the human factor. This is the
> > case in
every failed enterprise as well as every success.
> >
> >
Those who can understand what they are looking at and how to use
> >
that knowledge will always succeed. Those that follow rotely are
> >
doomed to fail at some point. It is the ability to apply the
> >
knowledge with as little bias as possible that creates success.
> >
That is one of the reasons that I preach, look at both moves up
> >
and down all the time. What has to happen for prices to rise and
> >
what has to happen for prices to fall? The problem with most
> >
traders is that they only look in one direction and caught up in
> >
their belief system and don't look at what will make their
> >
decision wrong. They usually use financial pain as an exit level
> >
rather than a price point that says they are wrong.
> >
> >
I have used the same system for over 35 years and never had to
> >
change it, adjust it or tweak it and it has worked successfully in
>
> all kinds of markets and it still works today. So does history
>
> repeat itself? All of the time. Minute by minute to year after
>
> year.
> >
> > Just one man's opinion,
> >
Ira
> > www.delta100.com
> > ----- Original Message
-----
> > From: BobsKC
> > To: realtraders@yahoogroups.com
>
> Sent: Friday, February 22, 2008 7:35 AM
> > Subject: Re: [RT]
Download Free Elliott Wave Theorist
> > (normally priced at
$29)
> >
> >
> > Just Prector .. He's been
predicting doom all through out the
> > bull market we've been in
including through nearly all of the tech
> > bubble which would have
wiped out most people following his
> > advice. He now admits to
under-estimating the length of wave C
> > but only after no one had
any money left who had been believers.
> > His view is that even
though the market makeup changes, people do
> > not change but even
that is flawed because when he looks at the
> > conditions in 1929,
the people in that market had an entirely
> > different geographical
and financial makeup than today. There was
> > no one world market..
no world economy, no ADR's. Stocks were
> > being purchased for .10
on the dollar. I wasn't alive then but I
> > don't believe there were
mutual funds. So, the players are vastly
> > different, the game is
different and the rules are different but
> > he doggedly sticks to
his theme that it's all the same and history
> > will repeat itself.
A view that has been extremely costly to his
> > followers.
>
>
> > Bob
> >
> > At 12:39 AM 2/22/2008, you
wrote:
> >
> >
> >
> >
> > Does
this mean you're not a Prector fan or not an Elliot
> > Wave
fan?
> >
> > Just curious if there is a distinction, and if
so, why?
> >
> > Thanks
> >
> >
>
>
> > In a message dated 2/22/2008 12:03:38 A.M. Eastern
Standard
> > Time, bobskc@xxxxxxxxxnet
writes:
> >
> >
> >
> > Prector is still
around huh? Every time the market sinks
> > a bit, his name returns
to the media so it's not really surprising
> > I guess. By the time
he was right about the markets from the
> > '90's, his followers had
to all be busted but I guess there is a
> > new crop now.
>
>
> >
> > Bob
> >
> >
> > At
10:31 PM 2/21/2008, you wrote:
> >
> >
> >
>
> Download Free Elliott Wave Theorist (normally priced at
> >
$29)
> >
> > EIliott Wave International is giving away one
of Bob
> > Prechter's most recent Elliott Wave Theorists. You can
read his
> > publication free of charge. Single issues are normally
priced at $29.
> >
> >
> > http://www.elliottwave.com/a.asp?url="">club/free-
>
> theorist.aspx?code=aff&cn=6tgt
> >
>
>
> >
----------------------------------------------------------
>
> ---
> >
> > No virus found in this incoming
message.
> >
> > Checked by AVG Free Edition.
>
>
> > Version: 7.5.516 / Virus Database: 269.20.9/1291 -
>
> Release Date: 2/21/2008 11:05 AM
> >
> >
>
>
> >
> >
> >
> >
> >
----------------------------------------------------------
>
> -------
> > Delicious ideas to please the pickiest eaters. Watch
the
> > video on AOL Living.
> >
> >
>
>
> >
>
>
>
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