Elliott Wave International's tutorial is the most comprehensive introduction to the Elliott Wave Principle available in cyberspace. All ten lessons have been adapted from Prechter and Frostís Wall Street bestseller, Elliott Wave Principle - Key to Market Behavior.
Review of Robert's book. I highly recommend the book if you want to survive the coming economic collapse.
As many of you know, Iíve been predicting an economic crash in 2009-2012 area. Most likely, it will be late 2009. Iíve also predicated a stock market rise before the crash, preceded by a huge rise in the seat prices on the Chicago Board of Trade (CBOT).
What Iím writing about today (October 3rd, 2004) is that the CBOT seat has taken off. If you think Iím out of my mind about the stock market rise and crash, I suggest you take a look at the CBOT analysis.
When I wrote the analysis seats were under $300,000 and everyone in the industry said they were going to zero. I studied the data going back to 1899 and that data told a completely different story. It showed the seats going to a LOW of $1,400,000, and a HIGH of $4,3000,000 within 8 years. Everyone in my business, who saw the study in 2002, said I was nuts.
On September 27th, 2004 the CBOT seat traded for $915,000. Furthermore, the CBOT has cleared the way to go public and sell shares. The CBOT is currently priced at 1.5 billion. When the shares hit the market next year the CBOT will be worth 2 billion. That puts the each CBOT seat at $1,248,439.
Moreover, seat prices have always risen BEFORE a stock market rally. This fact is clear going back over the last 100 years. The next test of my theories would be a stock market rally. However, I fear that wonít even get peoples attention.
This week I found a book that hopefully will get people's attention. The book does the best job Iíve seen at how to prepare economically for the crash. The book is the purpose of my writing today and Iíd like to share it with you.
What I like about Robert R. Prechter Jr. is two-fold; he admits his mistakes and his preparation and solutions are based on extensive research.
Mr. Prechter is widely known in the trading industry and I was stunned to receive a note from him congratulating me on my book Winter is Coming with the offer of sending me a free copy of his book. Iím so glad he did. Now I can offer a solution to a hypothesis that began five years ago and appears to becoming a fact.
Itís going to be a long winter. Itís time to get your acorns stored.