porter, your arguments are obviously well thought out. I appreciate your cautious approach, which requires that many indicators must fall into place for the history to repeat itself. <g>
There's no question in my mind that the markets reflect certain patterns of human behavior and psychology, with a strong overlay effect of more or less random external events. However, I do not believe that there is any basis to wave counts and regard Prechter as a broken clock that happened to be lucky--once. Libraries are full of such garbage and tea leaf reading. To believe that he--or anybody else--can fathom the future is, well, I'll stop here. My moniker reflects my beliefs.
I enjoy reading this group as no other, since the posters here contribute real nuggets of market- and trading-related wisdom and experience with less bickering than at the UN. I only wish there were less astrology, single-sentence hunches--and more spell checking... <g> Here I wish to acknowledge mlsof, whose posts are a pleasure to read.
Cheers,
M_e
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