Replies to post #1324 on Puda Coal Inc (PUDA)

[tatrader11]

Interesting. Thanks for the CIVIL comments.

"I have no beef with you at all except that I don't believe in EW which is just my opinion. My point was regarding Prechter because he is a friggin idiot who is 99% of the times bearish and is mostly wrong and not right. "

I stopped my EWI subsrciption for same reasons. Prechter has lacked flexabiality for years. I follow 2 other EW pros and use my own understanding of EW to decide on how clear wave count is and possiable morfs. However Prechter does follow market sentament closely and when he says 87% bullish it is from reconized searchs. Most people are not even aware of the indicator. It is a VERY IMPORTANT one as it is almost impossiable to guage from our own contacts, our own views, and what you hear on CNN.

I by the way disagree with Prechter regards primary count, he sees use having completed B wave up, I see us in E wave of an ending diangle to end B wave, that is to mean we are in last leg up right now that should go 1-4 weeks, but E waves sometimes trunicate so could end any time, they also sometimes over shoot the channel and create a lot of excitement and suck in the very last bulls before dying.

"Anyway I disagree with you on another thing. 87% bullish on the markets right now? That is complete BS in my eyes because pretty much EVERY single guy out there expects a sharp correction in the coming months."

I did not think it was 87% either, however mark my words Prechter uses that as a key TA tool. And I think the fast majority of the 87% do in fact expect a pullback, however they expect only a pullback then new highs to follow. I and other EW people by and large see this as a bear market rally and when she turns back down it will be a C wave, IE 3rd leg of the bear market that started in 2007 and the first intial target is the 667 S@P low.

So what does that really mean. CAUTION, EXTREME caution.

Thing is what is FA saying right now. Well 87% are bullish, FA is saying BUY.

Markets top when most give FUNDAMENTAL reasons to buy, and markets bottom when FUNDAMENTAL reasons say SELL.

Yet people scream TA is hocus pocus and only FUNDAMENTALS work.