----- Original Message ----- From: "Doug Henwood" <dhenwood at panix.com> To: "lbo-talk" <lbo-talk at lists.panix.com> Sent: Friday, November 08, 2002 4:04 PM Subject: the waves say...
> My nutty gurus at the Elliott Wave Theorist
> <http://www.elliottwave.com> say that the strong move upwards in U.S.
> stocks is over, and the exciting third wave of the bear market is
> about to begin. In Elliottworld, major trend moves break down into
> five waves, up, down, up, down, up. The first upwave is when it all
> gets started; it can be strong, but it's usually met with skepticism.
> The third wave is usually the strongest, and when the "point of
> recognition" comes - a broad recognition of the major trend. And the
> fifth wave is the decadent one - the time when the trend is old news.
> In the third wave of a bear market, you see massive anxiety -
> insolvencies, panics, a time when finance savagely hammers the real
> world (and vice versa). We'll see...
>
> Doug
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The future of equity prices etc. are not algorithmically compressible..er....past performance is no guarantee of future results.........
Ian