Robert Prechter Famous Quotes
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From the starch-heavy 'food pyramid' to ethanol fuel, the government adopts programs not because they are right but because they gains votes, money or political power or solve problems that politics has already created, such as silos full of subsidized wheat or a shortage of gasoline due to the maze of controls on refining.
The target for a retracement following a fifth wave often is doubly indicated by the end of the preceding fourth wave and the 382 retracement point.
I cannot morally blame all Americans for allowing, for instance, the birth of the Federal Reserve System and the money destruction that has followed. They are simply ignorant about it and don't know what happened or what is happening. They think that prices go up rather than that dollars go down.
The correct method for tracking the stock market is to use semilogarithmic chart paper, since the market's history is sensibly related only on a percentage basis. The investor is concerned with percentage gain or loss, not the number of points traveled in a market average. Arithmetic scale is quite acceptable for tracking hourly waves. Channeling techniques work acceptably well on arithmetic scale with shorter term moves.
I have never seen a market unfold in other than an Elliott Wave pattern.
Traders take a good system and destroy it by trying to make it into a perfect system.
The Nixonization of Obama has started. The Hooverization comes next.
