Hey KovuLK, I'm telling you all, I suggest you go back and read most of his articles over just the last year. I think it was about 3 months ago or so he had a piece about how INTC was going to fall and how he was actually buying AMD. WOW! Did he nail that one! And his whole piece explained FUNDAMENTALLY why. I think INTC was at $26ish then and AMD was still around the high $20s.
As I said, I think Poker and those that think like him, although I understand their arguement, are totally wrong because they don't have the fundamentals on their side. Bob Brinker's past newsletter had the 5 things that make up a bear market. I'm trying to find it. We have none of them and that's why again, the bears I think right now are getting suckered into this again as a bear trap.
I'm also amazed at how wrong people over on (well one specifically) stockcharts are labeling the wave counts. And there in again lies the problem with Elliotwave and most technical analysis. If you don't work it correctly, then it has no purpose other than to look at it from your point of view to justify your opinion. I think anyone on here can take any chart of any stock and look at any indicator and debate both sides as to which way the technicals are pointing their way. When the RSI or Stochastics for example are at extremely high levels, that doesn't mean neccessarily it's time to short. When the ADX is at 40 or higher, many think that means it's time to short.
There's a guy on Stockcharts that has a wave count explaining how the Q's should go to I think it was $38 based on what I showed in my previous post the AWE scenario. The problem with his chart is that he's calling the A wave from the Jan top to the last current low. But he labels that A wave as and ABC itself. WRONG. Each ABC wave in a corrective zigzag is an impulse itself, or 1-5. So that's what I mean with the problems with technicals.
Heck, even Gary B Smith is wrong many times. And he's touted as a technical guru. I like the guy, but I think he proves my point. (as a note, he just called for DOW 12,000 by Memorial Day) When is Memorial Day anyway? End of May? Somewhere around there? If that happens, then for sure the Nasdaq and the NDX are gunning higher. And like I said, if the Nasdaq breaks out over 2350 on a closing basis, it's all over. All this talk between Poker and I is gonna be settled. I think then the Q's gun to $45 to $46 easily by June. Then I get my 750.
AI
