[lbo-talk] market call

[Doug Henwood]

So my secret-vice gurus at <http://www.elliottwave.com> are saying 
that the major phase of the bear market is about to begin. Their 
interpretation, translated out of their mystical numbering system, is 
that we've been experiencing a long rally within a larger downtrend 
that is now peaking - if it hasn't already peaked. (Fun fact: the 
recent high in the market occurred exactly at the minute SH's statue 
fell on Wednesday.) What's about to begin is the central major 
downthrust of the long bear market - the magical third wave of 
Elliott theory (major trends consist of five waves - in a bear trend, 
they'd be down-up-down-up-down), and third waves are always the 
longest and strongest. If they're right, fasten your seat belt. If 
they're wrong, well it's a silly system anyway.

Doug