There is a very interesting paper in Gold Eagle Editorials entittled, 12,000 YEARS OF ELLIOTT WAVES AND WHAT THIS MEANS FOR THE 21ST CENTURY

http://www.gold-eagle.com/editorials_99/mbutler120299a.html

It has taken me several days to digest it, and I am still working on it, but I would like to hear what others think (only the ones who really take some energy to think about it and no flames please)

From what I understand, we are on the verge of a deep depression or dark age to last between 100 to 200 years which will not be as bad as the the Dark Ages from 400AD to 1000Ad. The "correction which we are about to start is the correction for the last 1,000 years.

This piece is not for light weight thinkers.

-- chicken farmer (bwana@inna.net), December 06, 1999

Answers

What the heck is an Elliot wave? I read as much as I could stand and it made zero sense to me.

-- JoseMiami (caris@prodigy.net), December 06, 1999.

Actually, yes, it is for lightweight thinkers.

-- Get Real (gaf@mindspring.com), December 06, 1999.

I'm an Elliott Wave/Bob Prechter devotee and I read about all I can handle too on this piece. No one has been able to demonstrate any precision on economic cycle timing just going back to '29. So these guys think they'll take it back 12,000 years??? Give me a break.

There's plenty to construe just evaluating things since '29- Its the 5th wave of a 5th wave so we're going south, but no one can say exactly when. Leave it to some goldbug outfit to say its gonna be a lot worse because we've evaluated our 12,000 year charts. What a joke.

Bah Humbug. These guys wasted a lot of time trying to construct a multimillenium wave count and they're wasting a lot of readers time by presenting it.

If they're such hot shot Elliott Wavers, why haven't they done any better warning their customers about the 19 year demise of gold prices?

-- Downstreamer (downstream@bigfoot.com), December 06, 1999.

Downstreamer, You sound like you understand this stuff. Can you give me a brief explanation of the significance of an "Elliot wave" and expand on the "5th cycle of a 5th cycle" comment? It sounds interesting coming from you.

-- JoseMiami (caris@prodigy.net), December 06, 1999.

Surf's up doods...

Kook

-- Y2Kook (y2kook@usa.net), December 06, 1999.

Here it is in plain language:

Yadda yadda look some sums, we must be brighter than you, blah blah, predict chaotic events by looking at how they happened in the past, chunder chunder join our cult.

-- Colin MacDonald (roborogerborg@yahoo.com), December 07, 1999.

Explanation of Elliott Waves

Economies, commodities, stocks, etc move in cycles.

Charts of these move in zigzag fashion, either up or down.

The zigzag in a rising main trend has 5 legs (That is Up-Down-Up-Down- Up). This is followed by a corrective zigzag of 3 legs (Down-Up- Down) that might retrace 50-66% of the main move. Then the main moves are repeated.

If the major trend is a decline, reverse all of the above.

Each of these legs can also have 5 smaller zigzags, followed by 3 corrective ones, ditto, ditto, etc. This is where it all breaks down as the zigzags get harder and harder to read.

Great in theory, tough in practice. :-))

-- John (jh@NotReal.ca), December 07, 1999.

The post above that was wingdinged out read:

Explanation of Elliott Waves

Economies, commodities, stocks, etc move in cycles.

Charts of these move in zigzag fashion, either up or down.

The zigzag in a rising main trend has 5 legs (That is Up-Down-Up-Down- Up). This is followed by a corrective zigzag of 3 legs (Down-Up- Down) that might retrace 50-66% of the main move. Then the main moves are repeated.

If the major trend is a decline, reverse all of the above.

Each of these legs can also have 5 smaller zigzags, followed by 3 corrective ones, ditto, ditto, etc. This is where it all breaks down as the zigzags get harder and harder to read.

Great in theory, tough in practice. :-))

-- John (jh@NotReal.ca), December 07, 1999.

-- SalvageRobot (salvage@robot.com), December 07, 1999.

and less of that, if you don't mind

-- (@ .), December 07, 1999.

Will try again now that the WingDings are off.

Explanation of Elliott Waves

Economies, commodities, stocks, etc move in cycles.

Charts of these move in zigzag fashion, either up or down.

The zigzag in a rising main trend has 5 legs (That is Up-Down-Up-Down- Up). This is followed by a corrective zigzag of 3 legs (Down-Up- Down) that might retrace 50-66% of the main move. Then the main moves are repeated.

If the major trend is a decline, reverse all of the above.

Each of these legs can also have 5 smaller zigzags, followed by 3 corrective ones, ditto, ditto, etc. This is where it all breaks down as the zigzags get harder and harder to read.

Great in theory, tough in practice. :-))

-- John (jh@NotReal.ca), December 07, 1999.

To the Elliott wave theorists predictions ,here is my wave in return ,one finger wave!

-- finger waver (justmoreshitinthegame@bogustheory.com), December 07, 1999.