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TAXMASTER · 09-03-2009, 03:42 PM

first, it never hurts anyone to be in a protective mode. who could have known that we would have turned into a socilistic socirty in order to hold off the fall? all we have done is delay the inevitable.

the stock market never goes straight up or down. it goes in a series of waves. if you study the elliot wave theory, he has identified every major movement or cycle in the market as 5 waves. the first wave goes in the direction of the market, the 2nd wave retraces back a percentage of the 1st wave. the 3rd leg is the longest and strongest of all the legs and continues the direction much farther than the first leg. the 4th leg is a partial retracement back from the 3rd leg and the 5th wave finishes the movement to it's ultimate destination then that cycle ends. a new cycle could begin up or down from there.

all elliot wave followers recognize wave 1 down started in october 2007 and finished in mar 2009. according to the percent of decrease they estimated that the leg 2 retracement would be somewhere between 9500 and 10000 in the dow. it appears that last week the dow met those rquirements and the next supercycle leg 3 will continue in the bear run. rob prechter wrote several years ago that in a bear supercycle (like we are now) when you get to the end of the leg 2 retracement, you will hear the economists claim the bear market is over that happy days are here and it tends to draw out the suckers to put their money back in the market.....sound familiar?

then leg 3 starts. remember nothing is straight up or down so there will be positve days too but the general direction is much farther than the bottom of leg 1. some are predicting the dow to go to 4800, 3400, or lower. do not forget that there will be a partial retracement but we will head even lower. this all coincides with the time frame we are in. september 30 is the end of our fiscal year in the us and we will find out where we are fiscally sometime between oct 7 to oct 25. look for a big plunge then. call me a pessimist but hard times they are a coming.

namaste'

09-03-2009, 03:42 PM	#18
TAXMASTER Avalon Senior Member Join Date: Sep 2008 Location: Terre Haute, Indiana Posts: 117	Re: Collapse of US in 2 months first, it never hurts anyone to be in a protective mode. who could have known that we would have turned into a socilistic socirty in order to hold off the fall? all we have done is delay the inevitable. the stock market never goes straight up or down. it goes in a series of waves. if you study the elliot wave theory, he has identified every major movement or cycle in the market as 5 waves. the first wave goes in the direction of the market, the 2nd wave retraces back a percentage of the 1st wave. the 3rd leg is the longest and strongest of all the legs and continues the direction much farther than the first leg. the 4th leg is a partial retracement back from the 3rd leg and the 5th wave finishes the movement to it's ultimate destination then that cycle ends. a new cycle could begin up or down from there. all elliot wave followers recognize wave 1 down started in october 2007 and finished in mar 2009. according to the percent of decrease they estimated that the leg 2 retracement would be somewhere between 9500 and 10000 in the dow. it appears that last week the dow met those rquirements and the next supercycle leg 3 will continue in the bear run. rob prechter wrote several years ago that in a bear supercycle (like we are now) when you get to the end of the leg 2 retracement, you will hear the economists claim the bear market is over that happy days are here and it tends to draw out the suckers to put their money back in the market.....sound familiar? then leg 3 starts. remember nothing is straight up or down so there will be positve days too but the general direction is much farther than the bottom of leg 1. some are predicting the dow to go to 4800, 3400, or lower. do not forget that there will be a partial retracement but we will head even lower. this all coincides with the time frame we are in. september 30 is the end of our fiscal year in the us and we will find out where we are fiscally sometime between oct 7 to oct 25. look for a big plunge then. call me a pessimist but hard times they are a coming. namaste'