Yes I did, I'm just curious about what others think, when it comes to the so called pros exemplifying shoddy performance.

Yes I did, I'm just curious about what others think, when it comes to the so called pros exemplifying shoddy performance.

by Quality Control
(Los Angeles )

As an institution for learning and the presentation of information concerning the Elliott Wave Principle Robert Prechter and Elliott Wave International is second to none. But has anyone noticed how wrong they've been concerning the Dollar index, the Eur/Usd currency pair and the DOW over the past 6 months.

They continue to charge money and provide extremely poor and inaccurate market analysis! Even if the Dow and Eur/Usd goes down and the U.S. Dollar index goes up as they've been touting since mid June of 2010 a case can be made that they've said it for so long it was bound to happen eventually!

Four months ago a smiling Robert Prechter himself in one of his services (The Elliott Wave Theorist Oct 12th, 2010) specifically stated, "The only bullish chart in the financial pantheon is that for the U.S. Dollar. Investors should avoid everything else. Traders should stay short the S&P and sell short the euro. If you are a speculator who joined us after January 2010 and are not already short the stock market, use this opportunity to take A MAXIMUM LEVERAGED SHORT POSITION'. If you want to take a flyer shorting precious metals or certain commodities, our Metals and Commodities Special Services track these markets daily."

It seems the Elliott Wave guru's have lost their touch !? And they continue parroting the same 'one day it will happen and until then were not sorry even though you deserved better', unapologetic and unrepentant use of the sensationalist language and misleading verbiage they continuously use in their analysis as if their conclusions are imminent! There should be a malpractice law for poor substandard consistently inaccurate investment advice from licensed professionals.

Comments for Yes I did, I'm just curious about what others think, when it comes to the so called pros exemplifying shoddy performance.

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Bad advice from Elliott Wave
by: Rick

I found out about Robert Prechter and Elliott Wave in 2008. A guy I worked with told me about him. I subscribed to his Elliott Wave financial forecast and lost a ton of money. What sucks is I had to pay for this bad advice and then lost money on top of it.

It's one thing to say the stock market is going to have a correction but he says the Dow in real numbers (not based on gold) is going down to 900 points. Not going down 900 points but going down to 900 on the Dow. The Dow is at 13,000 in March of 2012 as I write this. I learned an expensive lesson. A lesson the screwed up my retirement.

The best advice to investing if you ask me is dollar cost average in a diversified portfolio on a regular basis. It's as simple as that. Everyone wants a guru with a crystal ball and there is none. Prechter reminds me of the preacher that said the world was ending in May of
2011 then changed the date when it didn't happen to the fall of 2011 and then that didn't happen and all the people who followed hisadvice lost their jobs and possessions following the idiot.

beware the masters
by: Suckered & frustrated

I cannot get a feeling for the timing of the above post but I too became enamored with the seeming logic & striking graphs of Prechter & company.

Over the last 3 years I have successfully lost money 3 separate times to their "short with maximum leverage" insistence while wholly avoiding a doubling of the market.

As the adage goes: "if I only knew then what I know now." The Elliott Wave works perfectly in hindsight!

your right
by: Anonymous

I followed pretchers advice from Nov.2008 to Sep.of 2010. I sold most of my stocks, precious metal etfs and energy etfs. I also shorted the S&P and bought uup etf.When I finally back tested the 23 months of his advise I was down aprox50%. from what I would have made if I had not listened to his advice.I wrote to them presenting my data and that I felt like that religious sect that that sold all their possessions because they believed the world was going to end on a certain date. I never got a reply. I cancelled my subcription , but still ocasionally moniter their advice and am atonished they are still spouting the SOS unapolageticly

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