Elliott Wave Financial Forecast

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23 Comments on "Elliott Wave Financial Forecast"

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Steven Evans
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Steven Evans
February 1, 2009 4:14 am
This review will cover as one package the Elliot Wave International’s three packages, Short-Term Update, Financial Forecast, and Elliot Wave Theorist. The reason is that just buying the Short Term Update (at $39/month) is like looking up close at a Monet Painting (e.g., London. The Waterloo Bridge). You see every stroke and line but can’t really tell what the big picture is all about, while the Financial Forecast gives you the big picture, but you will miss far too much of what this service has to provide if you are just getting commentary once a month. However if you buy… Read more »
troppo32
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troppo32
February 7, 2009 6:48 pm

What a joke – “Steve Evans” reviews three of Robert Prechters offerings and uses the same commentary for all three. This smacks of a marketing flack shilling his pubs and is not something I would expect from Stock Gumshoe.

I hope they screen the reviews to keep them honest.

And, yes, I will post this on all three “reviews”.

custer
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custer
February 11, 2009 3:19 pm

While I’ve subscribed, I’ve merely watched their thinking, not used it to guide my investing. I’ve not been very impressed, and have pretty much stopped reading it.

Bill D
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Bill D
May 1, 2009 12:32 pm
To get the best out of this, one should know or agree with Elliot Wave theory. For the most part, they do a good job of DEFINING the trend once it develops. Since they try and pick tops and bottoms, one has to be wary, as NOT all signals are going to work and you have to have STOPS in play. Once a trend does get going, they are pretty good at keeping you in. They did a poor job from 1990 to 2000, thinking stocks were gonna dump, and it never came. They finally did get it right, but… Read more »
William Schraeder
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William Schraeder
June 11, 2009 10:31 am
Elliott Wave theory is fascinating, and Elliott Wave International (EWI) definitely makes it interesting with their commentary and myriad of products; EWI has quite a business model (racket) going. Bottom line: I have been a subscriber to most of their products for over 2 years, and I can say with scientific facts that the short term update (STU) and Financial Forecast (FF) are almost ALWAYS WRONG. While I suspect there may be a play in taking the opposite side of their recommendations, the bottom line is EWI products should be used for entertainment much like tarot cards or lottery tickets—the… Read more »
Kim
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Kim
September 17, 2009 7:33 am

I don’t subscribe to this product but just to put things in perspective:

According to CXOAX http://www.cxoadvisory.com/gurus/Prechter/ Prechter’s accuracy rate is 33%. According to Hulbert, from 1/1/85 through 5/31/09 Prechter’s trading advice would produce an annual loss of -15.4% compared to 9.7% gain in Wilshire 5000 index – http://www.erictyson.com/articles/20090616.

Burned
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Burned
October 7, 2009 5:10 pm
I got suckered, and it cost me. When commodities took the big tumble in mid ’08, it caught me by surprise. Luckily, I was way ahead and got out in time to stay a little ahead. But it shook me up. I went looking for some analyst or tout who “saw it coming.” I subscribed to Elliott Wave. Based on Elliott Wave, I lost a lot of money hedging my physical gold position for pull-backs that never came. For six months or so, they were predicting that gold would fall below its recent low in the high 600’s. They kept… Read more »
Al
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Al
October 14, 2009 9:19 pm
Well, I have only been a subscriber since Aug. 24 2009 and was still reviewing their archives when the call went out, by an early issue of Robert Precters’ EW Thoerist, that the odds favored the end of PrimaryWave2Up and the start of PrimaryWave3Down: the longest and most destructive wave down, according to EW Principle. Anyways, I’m not a novice, and have my own trading system, so I merely observed the market going down but did notice that it failed to break major support at SPX 992 on 9/2/2009 so I went long. In my experience when major support holds,… Read more »
Tony of  West Tennessee
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Tony of West Tennessee
April 22, 2010 4:11 pm
I am still a subscriber and I have so far lost at least US$50K because of believing in this publication. The whole ElliottWave methodology is based on bearish future of man kind (grand super cycle) and the numeric retracement in what goes up must come down in certain sequence and patterns. Yes, you can expect ElliottWave to be right some time but their odds has been much worse then 50/50. The problem is you cannot depend on their general newsletters to make trading decisions (which I did). I even subscribe to their short term updates. Looking back, the minute I… Read more »
Greg Pinelli
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Greg Pinelli
April 24, 2010 3:23 pm
I’ve subscribed to the Elliot Wave Theorist..Weekly Updates…Financial Forecast and Global Market Perspective for over a year. After reading the previous reviews I can only wonder whether some of the commenters have actually read the Elliot Wave material or any of Bob Prechter’s books explaining the Wave principles. Beginning in March 2009 Prechter clearly called the market heavily oversold and said the odds for a Primary wave 2 rebound were very high. Beginning in late Summer 2009 and especially in January 2010 the Financial Forecast and Market updates were calling for a continuation of the market slide seen previously. They… Read more »
Kim
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Kim
April 25, 2010 3:58 pm

Greg,

As I mentioned already, according to CXOAX http://www.cxoadvisory.com/gurus/Prechter/ Prechter’s accuracy rate is 33%. According to Hulbert, from 1/1/85 through 5/31/09 Prechter’s trading advice would produce an annual loss of -15.4% compared to 9.7% gain in Wilshire 5000 index – http://www.erictyson.com/articles/20090616.

Makeing random predictions would produce better results. Buying stocks randomly would produce better results as well. -15.4% makes it probably one of the worst newsletetrs.

Pal
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Pal
August 29, 2010 6:39 pm
I was paying subscriber for six months to the Short Term Update as well as the other basic reports. For three months I evaluated the daily forex anlysis. First, let me say that I really really wanted to like the service as I am an options trader and added the service to my list of paying sights to bring more clarity to my understanding of market movements and most importantly to improve my timing of options trades. Keep in mind I was only trying to improve long term trades like 3 months to 2 years out in the future. I… Read more »
3 Lions
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3 Lions
September 14, 2010 10:41 am
I have been subscribed to EWI Financial Forecast, Theorist and Short Term Update for 7 years with a couple of breaks. I am just about to cancel my subscription FOR THE LAST TIME. This is not so much because of the Prechter etc.. but because Elliott Wave Theory is poppycock nowadays. There is some merit for EWT over the long term and Prechter et al.. are logical and I agree with much of their long term analysis. It doesn’t matter which EWT expert you listen to however there is always a “top label pattern” and a “top alternate pattern” and… Read more »
Ex-Subscriber
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Ex-Subscriber
September 19, 2010 1:36 am
I gave EWI 4 stars for consistancy – for being WRONG.  I subscribed to the Short Term Update (STU) over a year ago.  Cost me much more than the subscription.  Below is a copy of the letter I wrote just before cancelling; To whom it may concern, The STU of June 11, 2010 leaves out a blatant ommission.  It mentioned that the Dow and S&P were below their 200 day moving average, and even drew the line on the Dow chart to illustrate that.  The bearish implications are apparent, and I agree. But what the analysts failed to include was… Read more »
Brian
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Brian
September 23, 2010 9:42 pm
I subscribed to this letter for about 2 1/2 years all up on two separate occasions, following their recommendations the first time cost me a fair bit of money, but I gave them another chance because I enjoyed reading their publications, the second time I subscribed I was pretty much wiped out and when reviewing my trading I would have to say it went down hill after subscribing to this news letter, all though managing the money was up to me I am sure that there are plenty of others like me that thought they had an inside edge and… Read more »
Danpar
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Danpar
October 29, 2010 1:34 pm
EWS has been predicted the next big move down for the last 3 months. The market has been in an uptrend for 2 months now. I have been foolish enough to base my trading decisions on a predictive system and now I pay for it. One trade that strikes me is silver. I wanted to make a big purchase this summer when silver was around $17. EWI was predicting an imminent move down of al precious metals. I waited and waited for their predicted pullback. Meanwhile siver was making a steady move up and reached $24 as I write this.… Read more »
Fred
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Fred
January 2, 2011 1:17 pm

is he doing better with any of his silver forecasts?

Steven Vincent
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January 28, 2011 6:43 pm
I am in the process of writing a comprehensive critique of Elliott Wave International’s work. To read the full article with charts and the subsequent entries in the series go to: http://www.thebullbear.com/profiles/blogs/the-ewi-argument-a-critical THE EWI ARGUMENT: A Critical Analysis of Robert Prechter and Elliott Wave International (March 2009-Present) PART 1 SUMMARY In this article I analyze the recent work of Robert Prechter’s “Elliott Wave International”, evaluating it in terms of the quality of epistemology, methodology, data integrity, interpretation, conclusions, recommendations and results. The analysis is limited in scope to the equities markets since March of 2009. Because of time constraints, counterpoints… Read more »
Kev B
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Kev B
February 7, 2011 2:12 pm
I’ve been a subscriber for over a year. The most credit I can give them is alternate views so that I do not become so cocky on one side. I remember losing a lot of money in 08 after commodities topped. I didn’t have a good risk management plan in place, but part of that was the rah rah gold, oil, commodities are going even higher. They have been uber bearish on silver for quite some time, even though it catapulted beyond their expectations time and time again. EWI is useful only because it keeps me aware of dangers lurking… Read more »
Steven Vincent
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February 9, 2011 9:42 am
To read the full article with charts and the subsequent entries in the series go to: http://www.thebullbear.com/profiles/blogs/the-ewi-argument-a-critical-1 THE EWI ARGUMENT: A Critical Analysis of Robert Prechter and Elliott Wave International (March 2009-Present) PART 2 In the first installment of this series, I examined Robert Prechter and Elliott Wave International’s current wave analysis and proposed some alternate views. In this segment I will examine EWI’s market timing record. First, I’ll run down the history of EWI’s market calls from March 2009 to present. In conclusion, I will analyze a few of the flaws in trading methodology which led to the failed… Read more »
Scott Diering
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Scott Diering
February 14, 2011 9:28 pm

I subscribed to the Elliot Wave Theorists this past year, 2010. I acted on the predictions which they confidently made. They were all, and are still, WRONG. Upon further research, the EW group is about 28% correct in their predictions…well below the 48-51% average for stock and market analysts.
If your goal is to make money, avoid these self-aggrandizing, pedantic losers.
If you want to make more money than you would make following their advice, hide your money in your mattress.

Doug Ralston
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Doug Ralston
July 26, 2011 1:02 pm
Ever since the low in 2009 I subscribed to the weekly service that gave updates 3 times a week. I had told myself that if the DOW exceeded a .618 retracement of the decline(approx. 11,250) that I should cover my ‘shorts’. I only wish that I would have stuck with that but I continued to believe(can’t rmember his name) the analyst that wrote the updates who continuously made me feel like a decline was imminent. I even wrote that he would not include certain things such as bulllish consenus or many other indicators when they did not favor his position……….like… Read more »
Gregg White
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November 30, 2011 12:08 pm
I make no apology for venturing into this forum for a second time in the last year or so. By now nobody should even consider any investment/trading service that uses Elliott Wave theory & that includes the Financial Forecast service. It may well have been the case in the days of ‘honest’ stock & commodity markets that EWT worked. I have no doubt about the integrity of “Mr. Elliott” himself but markets are now so manipulated by Wall Street that this system which relies entirely on the ‘herd instinct’ cannot work unless just by luck occasionally. I stopped my EWI… Read more »
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