I just found out why the perma-bear threads >>>
A no-bear thread? Aw, that's no fun.
That NASDAQ McClellan (post # 7900) says you're right on the money with your long nibble at the close. You probably deduced from what I wrote about Onischka that I'm trying to ride his 1170 call...but not wait any longer than 11 a.m. Wednesday.
That insider trading chart was interesting. The previous valleys & peaks appear to lag 2-3 months, but the current is near-coincident. Any read on that?
In addition to the mutual fund flows, if you can find discount brokerage daily trade data, I think you'll see a HUGE jump in the past few months.
It's all building a case for a great contrary move, but I think we have a six-week cushion.
If we're off an S&P triple bottom, an 1150 minimum seems likely. I have an Elliott Wave read in that neighborhood. And my trading professor got the same number from the analyst he thinks is the best in the business.
Your comment about Prechter's '78 call being four years early is right on. He has guts--in his 20th anniversary edition of "Elliott Wave Principle," he reprints in the appendix (p. 211) an "Elliott Wave Theorist" piece in which he points out exactly that--he was four years too soon.
He's made two great calls...just early on both. I'm in the secular bear camp. I think we'll see the next great 18-year bull run start in 2014. So beginning in '09 I'll be watching Prechter for an early bull call.
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