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Hi Jack,
Did you already ask this (not-dumb) question to "The Elliott Wave Theorist" ?
I'm interested in Prechter's own answer........
I mean if he doesn't admit he was wrong about his '98-bear forecast and in
'95 in his book: Crest of a tidal Wave, a Forecast for the great
Bearmarket(For mr. Issen ISBN 0-932750-39-7), than Rajesh may have a point
where he wrote:
>Bob refused to accept an alternate count when the market action didnt match
> his prediction putting his ego above the mechanics of the count.
Rgds.
Frans
At 09:04 5-11-00 -0500, you wrote:
> Actually, I received a copy of "Elliott Wave Principle" friday nite from
>Elliott Wave International.....it's a complimentary gift for subscribing to
>their service.
>Soon as you open the cover , on the inside sleeve, there's a few paragraphs
>about Prechter. "The Hulbert rating service reports that The Theorist
>exceeded the performance of the Wilshire 5000 over the 13 1/2 yr period
>ending Dec. '93, while being exposed to market risk only 50% of the time. "
>It goes on to list other accolades and awards like for example :
>"In 1984, Mr Prechter set an all time record in the United States Trading
>Championship by returning 444% in a monitored real money options account in
>the four month contest period. "
>"In Dec. '89 , Financial News Network named him "Guru of the Decade".
>Then theres a Publishers note that gives some back ground on the book.
>Elliott Wave Principle came out in Nov '78. "It's hard to believe it's been
>20 yrs since we introduced the world to Frost and Prechter's vision of a
>great bull market in stocks. While it's extent has been much more than they
>originally expected , the authors maintain their labeling of the advance as
>Cycle wave V. "
> Because it does look like they were expecting the bull market to end
>in 98. While the market did have a rough yr, it also saw the beginning of
>another leg up in Oct. 98.
> Jack Frans Derksen wrote:
>At 21:32 3-11-00 -0500, you wrote:
> Wave Theorist" by Robert
>Prechter.
>>I've heard nothing but good things about Prechter but know very little of
his
>>past
>>predictions on the markets..
>>He's calling for a decline in the financial markets that isn't expected to
>>bottom until 2003 - 2004 .. he mentions July 4 '04 as a likely target for a
>>bottom.
>>If anyone has knowledge of Prechter's past predictions and how credible he
>is or
>>
>>isn't please let me know. >I specifically heard a rumor that he was
>bearish in
>>'98 and missed the bull market.... I find this hard to believe but I
>thought I'd ask
>>anyway.
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