U.S. stocks could sink by more than 20 percent if the neckline of a head-and-shoulders pattern on the Dow Jones Industrial Average is breached, according to Robert Prechter’s Elliott Wave International Inc. Words: 524
Have you ever traveled abroad and taken a look at the local currency and wondered how the citizens of that country could take seriously what looks like “Monopoly money?” I’ve got news for you: You’re using the same stuff. Monopoly money is the money over which some government has a monopoly. It is the currency of the realm only because the state makes it illegal to use any other type. Words: 633
In his April 2010 issue of the Elliott Wave Theorist Prechter predicted that these same eight indicators would switch from bullish to bearish by May 7th. Considering the events on May 6th and 7th he is once again sounding prophetic. This is extremely important as the media would have you believe that the events of May 6th were the result of a “fat finger”. Words: 1154
Robert Precther recently published a list of market myths for his subscribers which I’m sure he won’t mind if I review the lessons he voices in his article with you, borrowing from his excellent research to help make the arguments. Recognizing these market myths are critical to your success as an investor. Words: 1266
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