Here’s what’s been going on
with us
For
starters, if you are wondering why you haven’t heard from us lately, it’s
because Joe Russo, the publisher of Elliott Wave Technology, has been dutifully
caring for his last remaining parent, who is valiantly fighting cancer at 85,
and recovering rather remarkably from a major surgery in June. With that out of
the way, we can now bring you up to speed on what else has been going on with
us here at Elliott Wave Technology.
The roads we’ve traveled, and those that lie ahead are so vast, where to begin? Much has transpired since we arrived on the scene in 2004.
Sure,
the more things change, the more they stay the same- a paradoxical phrase that
remains rather applicable – however, the difference perhaps lies in the way in
which we perceive and individually adapt to the dynamics of such constant cyclical
change.
As
the image to the left might suggest, sure, we can go right ahead, smile – lift
a stiff drink to our lips, celebrate and state proudly for the record, yo-bro,
the market is near all-time highs, “it’s all good dudes.” Is it really though? Let’s
be honest.
We
all know that things are not nearly as good as the mainstream media leads us to
believe.
Despite
the stock market trading near record highs, there is far less participation
from small retail traders and investors than there has been in a long, long
time.
Growing
numbers of people no longer have excess speculative funds with which to
trade/invest, or they are simply hesitant of doing anything amidst what appears
to many, a highly rigged system of financial corruption of which they want no
part.
Those
with funds embedded in 401k’s and retirement accounts seem once again to be rather
disengaged, burying their heads into the flawed buy, hold, and hope strategies that
have a knack for throwing nasty curve-balls just when you least expect it.
Granted,
things can always be worse, and yes, we must always make the best of what we
have to work with. That goes without saying however, sometimes, and we think
the present certainly qualifies; one simply has to go the extra mile to make
sure that every base is covered.
Let’s
face it, apart from holding a healthy hoard of insurance via investment in monetary
metals, until
and if there is a major financial/economic/currency reset or collapse of some
sort, US dollars and conventional financial instruments are the only game in
town.
Therefore,
it makes sense to use these tools to our favor for as long as they last – again
– they are the only game in town apart from the few alternatives like the
monetary metals and crypto-currency’s.
At
Elliott Wave Technology, efforts to track and label every intraday wave
structure for impulsive or corrective attributes became a counterproductive
exercise in futility quite some time ago, so we stopped doing it.
No
doubt, we absolutely continue to monitor and track the larger
degree long-wave counts, but we have largely abandoned expending precious time and energy
trying to forecast future price action thru the interpretation of intraday bar
charts.
Just
ask any Prechterite or traditional Elliott Wave enthusiast what came of the
highly anticipated third-waves down after markets went on to make new historic
highs following both the lows in 2002, and 2009. I think you know exactly the
type of table-pounding futility and money losing dogma we are referring to
here.
Frankly,
the bottom line is literally that such nuanced and subjective analysis, though
intriguing, rarely works, and more often than not, doesn’t really matter when
it does, especially in the post 2002/2008 market environments.
All
that matters to our subscribers and us - is being right more often than being
wrong, and establishing winning and profitable trades in every timeframe. This
is what we’ve been all about accomplishing for our subscribers for the past
several years.
In
doing so, we have replaced several of our old charting and forecasting
subscriptions with just two, the Chart-Cast Pilot and the Long-Term
Trend Monitor.
Via
real-time email alerts and daily PDF reports, the Chart-Cast Pilot conveys exclusive
actual positions taken within the portfolio, which continues to sport a
phenomenal performance record in every timeframe.
On
a quarterly basis, the Long-Term Trend Monitor provides the exact same type of
service - but is dedicated exclusively to the self-directed long-term index
investors of the world. It too continues to perform extremely well.
Beyond all that, holding down the
family fortress, trying to come up with efficient ways of reaching more people
to serve, and caring for an ailing family member, are amongst the other things
that have consumed the balance of our existence to date.
Well,
that’s pretty much all that we’ve been up to, how about you? Drop us a
line; let us know what
you’ve been up to and what’s important to you right now, we’ll be happy to
answer any questions you might have on the markets or our services.
Until
Then,
Trade
Better / Invest Smarter
The Chart Cast
Pilot and Elliott Wave Technology’s Guardian Revere Long-Term Trend Monitor are the proud sponsors of this communication.
