Elliott Wave Theorist

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20 Comments on "Elliott Wave Theorist"

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Steven Evans
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Steven Evans
February 1, 2009 4:16 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 »
Bob Brown
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Bob Brown
February 7, 2009 12:55 pm
I’ll begin with a couple of caveats. First, I subscribed to Prechter’s newsletter in the mid 1980’s (I think it bore the same name as it does today, but I’m not certain), when I started investing. So, it’s been long time, which means that I don’t remember details, and that I can’t speak to Mr. Prechter’s performance now. However, since my experience was most memorable, I feel that I should relate what it was. Something always seemed true about larger patterns working themselves out, and, being of esoteric mind, I was very interested in Elliot Wave Theory. I still check… Read more »
troppo32
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troppo32
February 7, 2009 6:49 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”.

hank
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hank
February 16, 2009 6:16 am
a very good overall summary of the market and general direction of the future. they state that they called the current crash and depressive atmosphere but unfortunately at that time i believed in the “fools” and got smashed. only later i found their site.as of late-about 2/3 months- they called for gold dropping to 650, therefor i closed my long positions only to witness the current rise to over 900. for silver it could be that they scored positively. also they can not really predict tomorrows market until it is over. they constantly state- like all the others -that it… Read more »
Steven Evans
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Steven Evans
February 16, 2009 6:14 pm
This is a comment about other comments to my review and this investment service. No, Mr “troppo32,” I am no shill, and I explained that I saw all three services as essentially one total package, hence the same comment for all three. So save your snide and cynical remarks for yourself. As for “hank,” who sold his gold and now it’s at 900 [and he is unhappy), well good buddy this service pulled my “gold” fat out of the fire in my case. With gold at a litle over a $1000 an ounce, Elliot announced a little while later we… Read more »
SLW Iowa
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SLW Iowa
February 28, 2009 10:19 am
I subscribed to Elliot Wave in the mid 80’s and have recently subscribed again. In the mid 80’s their general predicted trends were quite accurate and yet I lost over $100K in the futures market. I was young, newly rich, very ambitious, and not very experienced as an investor. This is to say: no matter how accurate the calls are, you still need the basic skills of a good investor to make money. This is NOT to say all his calls are correct – they are not. But Elliot Wave does not hesitate to go way out on a limb… Read more »
SageNot
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SageNot
March 8, 2009 8:17 pm
I just found out that my subscription to the Elliot Wave Theory from the 80’s/90’s is still in Prechter’s customer list. In those days Mr. Prechter’s advice was often iffy & I do remember the “trap” that Lou set for him on Wall St. Week. No matter what you think of wave analysis, it wasn’t one of Lou’s best works. He was actually viscous, & mean, which I thought was uncalled for on a staple like WSW, but that’s history. For real long-term wave analysis I prefer the Kondratieff Theory which I believe measures the actual “working age” of man… Read more »
Eric Balkan
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March 11, 2009 12:42 pm
Awful, awful, awful. This is a stopped-clock service. If you subscribe when the market is moving with their specified direction, i.e., down, it’ll look like a good service. If not… I subscribed for about 9 months in late 2002 – early 2003. At the bottom of the market in Feb-Mar 2003, the weekly service was calling for a waterfall decline taking the market much lower. They had a stop set for about 10% higher on the S&P, which was eventually hit. All during that time, and it took several months to play out, they would change their wave count so… Read more »
Richway
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Richway
March 28, 2009 1:24 am

I just took another 3 mos. after being gone a few years, and it is like a time warp; same old perma-bear mantra from Prechter. He still claims he called 1987 perfectly, but he has been a bear ever since, and every few years he can say he was right.

I do like Steve H’s commentaries, and they are useful for El Wave learners to study.

INVESTOR606
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INVESTOR606
April 23, 2009 10:04 am
I HAVE RECIEVED THE ‘THEORIST’ FOR SEVERAL YEARS. I HAVE TO AGREE WITH TROPPO32 THAT THE EVANS REVIEW AND EVEN HIS REPLY SOUND LIKE PURE HYPE. MY EXPERIENCE IS THAT IT DOESN’T REFLECT PRECHTER’S RECORD OR VALUE. I HAVE FOUND TOO MANY TIMES WHEN I AGREE WITH ERIC BALKAN THAT THE PREDICTIONS ARE CLEAR WHEN GIVEN BUT BLUR TO APPEAR MORE CORRECT THAN THEY WERE, LATER. YET PRECHTER DOES OFFER AN INVALUABLE SERVICE. HIS OVERVIEW OF MARKET OPINION AND THE REAL WORLD AFFECT ON THEM AS WELL AS THEIR EFFECT ON THE FUTURE CAUSES ME TO SEE THINGS DIFFERENTLY THAN… Read more »
William
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William
May 15, 2009 4:37 pm

Sorry but Prechter is the Conman of Conmen. His 2000 forecast of DOW 400 and Gold to 103.50 were dead wrong. Gold went the exact opposite direction and Dow never even came close and later soared in 2003.

Prechter always extends his “5th wave”, changes his counts, etc.

He’s a scammer and wil lose you money, big time!

Tony
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Tony
July 24, 2009 5:46 am
I have been subscribing to EWT on and off for many years. I can say the EW experts are more like lawyers. They always tell you what might happen if this and if that but they never state what WILL happen. They are too guarded and won’t commit their knowledge to the ultimate test. There is always a get-out clause. They are unable to be positive about any the outcome of any chart movement; there always has to be a double check and then another. While that is happening of course, any profits are running away from you and you… Read more »
sheeple123jump
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sheeple123jump
July 25, 2009 11:34 am
I’m a recent subscriber to one of the ‘Elliot Wave’ packages….and mostly for the purpose of educating myself on the elliot wave. I think many of the comments here from reviewers are on target,both positive and negative…. these newsletters from elliot wave are centered around the elliot wave …and as a recent poster mentioned….really benefits a teckie analyst who is studying the elliot wave, and using it as part of a complex examination of the markets, the big picture, the world picture, etc….just as it requires reading a number of other newsletter advisories if you want specific stock picks, the… Read more »
cautious
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cautious
August 24, 2009 8:34 am
I have followed Elliott Wave since the early 60’s but only as a subscriber for a few years. One might say that Elliott is good at very very long perspectives but stinks at anything resembling investment time periods. In 87 with the “crash”, Prechtor was basking in having called the top – though as you will see that probably needs to be questioned. He then went into end of the world mode, calling for the end of stocks and recommending people hunker down and never invest again. I pretty much ignored them until the 9/11 crash at which time, unfortunately,… Read more »
kim
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kim
September 22, 2009 8:57 am

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.

I asked them to comment on the data, but they said the data is not correct. I cancelled my subscription. I don’t see any reason to pay hundreds of dollars per year for a service that underperforms the market by 25% annually.

San Diego Investor
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San Diego Investor
May 6, 2010 9:16 pm
I subscribed to Elliott Wave International’s commodity newsletter for awhile and tracked their recommendations before I invested any money. I don’t recall the exact numbers, but the majority of their recommendations would have lost money. a year and a half later, after the market bottomed in 2009, I subscribed to their 3 stock market newsletters. EWI is pretty brash about claiming how they accurately call market tops and bottoms. Looking for an edge, I wanted to believe they were it. Then starting in sept or oct ’09, EWI was calling for a market top and recommended going to “maximum leveraged… Read more »
Terry
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Terry
April 11, 2011 10:34 am

Nice silver call. When does wave C begin?

WishICouldTrustIt
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WishICouldTrustIt
July 26, 2011 12:04 pm
Basically ditto San Diego investor. I remember the spectacular calls made pre 1987 crash. But at that time Prechter was already calling for Dow 400 and doomsday. I subscribed again in 2001 and made some money on the short side. However, when the market made a large head and shoulders bottom in 03/04 I got nervous as they continuously called for much more downside. And SD is correct, they just kept changing their wave counts relentlessly and recommended short all the way up the rally. Had I followed their advice I would have been wiped out. I didn’t, but then… Read more »
joe longwill
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joe longwill
December 26, 2011 1:14 am

i followed elliotwave short term update and prechters theorist from 1997 into 2009-2010
and ill sum it up as best i can .
if they were calling for the 3rd of a 3rd very powerful wave down in 1997 and again in 2000 and again in 2007 and are now doing the same
then can they be considered right in any of the calls they have made over the past 13 years ???
think about it .
lastly i learned alot about elliott wave theory from the years reading and researching and now use my own thoughts when i risk my own money ..

ns2000
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ns2000
February 26, 2013 2:23 pm
I find Mr. Prechter’s commentary interesting, but not necessarily tradeable. Most of his commentary is more applicable to trends in social mood than trading. The basis of his commentary, the Elliott Wave Theory, is presented as a nice neat set of rules, but in practice it is not near so neat. Some waves are counted others aren’t. Change the bar interval and the waves change. Today’s price action will change yesterday’s wave count. It seems to me that EWT and its associated newsletters (Short Term Update & Financial Forecast) have a tendency to have an alternate view that will allow… Read more »
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