Prechter Question
#11
Posted 01 May 2007 - 03:14 PM
JV
#12
Posted 01 May 2007 - 04:09 PM
13750 in a few days will clean up the short. Then cacoom.
#14
Posted 01 May 2007 - 09:33 PM
#15
Posted 01 May 2007 - 09:40 PM
http://www.zimbio.co...Veyron Crashing
#16
Posted 02 May 2007 - 12:48 PM
good short term calls but long term ? No one can do that for very long
Hank
I subscribe their service and I must say that I am not impressed with their prediction. Their short term prediction has been wrong since the low in March, and they keep looking for the wave 2 till the breakout, and they keep a very bearish stand overall. The most fascinating thing is that their prediction of DOW will go to 400, which really made me wonder why the hell I paid them at the first place.
In any rate, prechter's reasoning is that 5/2/2007 +/- 4 trading days is the fib 5/3. From Oct 9th 2002 low (Dow) to 5/2/2007 is 1665 days, and to 2/22/2007 is 1598 days (Fib 8/5). In his label, he says its 5/2/2007 +/-2 trading days. He recommended fully leverage short position with stop at 13500 for Dow.
I know that Airedale uses March 2003 low for his cycle study for reasons, and I don't know how to reconcile their differences. One thing I know is that Prechter issued an interim report on 2/22/2007 for the turn, which turned out to be true. I also know his short prediction by his firm is wrong for over a month, pretty much every time. Airedale's cycle study turned out to be true many times, but he didn't predict the turn on 2/27/2007.
Trade at your own risk.
P