Replies to post #7890 on MDA - Market Direction Analysis (MDA)

[ponkap]

Deuce is wild. Enjoy your sense of humor.

My favorite all-time bear is The Man Who Cries Wolf (aka Robert Prechter.)

Here's a quote from his '95 book "At the Crest of the Tidal Wave":

"Today, the only certainty is that a great bear market...is due to begin this year and carry the Dow to below 1000."

Talk about subscribers up in arms. Can you imagine going short in '95 based on that advice?

He's still at it, of course. On 10/7/02, Thom Calandra had a column on marketwatch.com quoting Prechter predicting the Dow would hit 4000 in the next six months. Can you imagine going short then on that advice?

So far so good with Onischka's short-term. 1170 NDX looks to be a stretch, but I'd sure like to see it around 11 a.m. Wednesday.

Then, one of those rare recent days when the market doesn't run flat after 11, as Honorary Sir Al lifts it to a wave 5 takeoff.