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Friday, September 17, 2010

Bob Prechter of Elliott Wave International on the Markets (from June 2010)


5 comments:

  1. "We need to see some more Pessimism"
    Sounds like words to live by.

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  2. We do indeed...

    pessimism begets optimism...

    ...it is a contrary indicator...

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  3. I was being facetious. As were you?
    facetious |fəˈsē sh əs|
    adjective
    treating serious issues with deliberately inappropriate humor; flippant.
    My belief is that pessimism and fear begets more pessimism and fear, which seems to be the crowd mentality that often drives the stock markets and the Republican political strategy.
    I choose to focus my energy on optimism.
    What one thinks is what one becomes.


    .

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  4. "All that we are is the result of what we have thought. If a man speaks or acts with an evil thought, pain follows him. If a man speaks or acts with a pure thought, happiness follows him, like a shadow that never leaves him. "
    Buddha

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  5. ...i was not being facetious...

    it is all about cycles, dude...waves...

    ...waves of optimism and pessimism...ying and yang...the pessimism has to play out before the optimism can take over, and vice versa...

    ...and prechter is not saying he is pessimistic, he is observing the behviour of the crowd...

    ...nothing goes up for ever, just as nothing goes down forever...we are in a "down" wave of pessimism, but there is still too much optimism for the wave to bottom out, before the next phase, the phase of optimism takes over...Extraordinary Popular Delusions and the Madness of the Crowd...Socionomics - I need to post some more on this topic, maybe dedicate Wednesday as Socionomics day...

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