Declare Your Independence with Ernest Hancock strives to create an understanding of the Philosophy of Liberty. Understanding is far more important than agreement -- that will come in its own time.
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09-13-12 Bob Prechter - Terry Bressi - Sanjiv Bhattacharya - TODAY'S SHOW IS A RE-RUN
(MP3 and Video Loaded) - Bob Precheter (Elliott Wave International) on the future market trends - Terry Bressi (CheckPointUSA.Org) - Sanjiv Bhattacharya (U.S. Correspondent with Esquire Magazine U.K.) on the r3VOLution
Robert R. Prechter, Jr. (b. 1949) is an Americanauthor and stock market analyst, known for his financial forecasts using the Elliott Wave Principle. Prechter is an author and co-author of 14 books, and editor of 2 books [1], his book Conquer the Crash is a New York Times bestseller.[2] He also has published monthly financial commentary in the newsletter The Elliott Wave Theorist since 1979, and is the founder of Elliott Wave International and New Classics Library.[3][4] Prechter served on the board of the Market Technicians Association for nine years, and as the Association's President in 1990-1991. In
recent years Prechter has supported the study of socionomics, a theory
about human social behavior.[5][6]
About Elliott Wave International:
Elliott Wave International (EWI) is the world’s
largest market forecasting firm. EWI’s 20-plus analysts
provide around-the-clock forecasts of every major market
in the world via the internet and proprietary web systems
like Reuters and Bloomberg. EWI’s educational services
include conferences, workshops, webinars, DVDs, streaming
videos, special reports, books and one of the internet’s
richest free content programs, Club EWI.
Elliott Wave personality and characteristics
Elliott wave analysts (or Elliotticians) hold that each individual wave has its own signature or characteristic, which typically reflects the psychology of the moment.[2][3] Understanding those personalities is key to the application of the Wave
Principle; they are defined below. (Definitions assume a bull market in
equities; the characteristics apply in reverse in bear markets.)
Five wave pattern (dominant trend)
Three wave pattern (corrective trend)
Wave 1: Wave one is rarely obvious at its inception. When the
first wave of a new bull market begins, the fundamental news is almost
universally negative. The previous trend is considered still strongly in
force. Fundamental analysts continue to revise their earnings estimates
lower; the economy probably does not look strong. Sentiment surveys are
decidedly bearish, put options are in vogue, and implied volatility in
the options market is high. Volume might increase a bit as prices rise,
but not by enough to alert many technical analysts.
Wave A: Corrections are typically harder to
identify than impulse moves. In wave A of a bear market, the fundamental
news is usually still positive. Most analysts see the drop as a
correction in a still-active bull market. Some technical indicators that
accompany wave A include increased volume, rising implied volatility in
the options markets and possibly a turn higher in open interest in related futures markets.
Wave 2: Wave two corrects wave one, but can never extend
beyond the starting point of wave one. Typically, the news is still bad.
As prices retest the prior low, bearish sentiment quickly builds, and
"the crowd" haughtily reminds all that the bear market is still deeply
ensconced. Still, some positive signs appear for those who are looking:
volume should be lower during wave two than during wave one, prices
usually do not retrace more than 61.8% (see Fibonacci section below) of
the wave one gains, and prices should fall in a three wave pattern.
Wave B: Prices reverse higher, which many see as a
resumption of the now long-gone bull market. Those familiar with
classical technical analysis may see the peak as the right shoulder of a
head and shoulders reversal pattern. The volume during wave B should be
lower than in wave A. By this point, fundamentals are probably no
longer improving, but they most likely have not yet turned negative.
Wave 3: Wave three is usually the largest and most powerful
wave in a trend (although some research suggests that in commodity
markets, wave five is the largest). The news is now positive and
fundamental analysts start to raise earnings estimates. Prices rise
quickly, corrections are short-lived and shallow. Anyone looking to "get
in on a pullback" will likely miss the boat. As wave three starts, the
news is probably still bearish, and most market players remain negative;
but by wave three's midpoint, "the crowd" will often join the new
bullish trend. Wave three often extends wave one by a ratio of 1.618:1.
Wave C: Prices move impulsively
lower in five waves. Volume picks up, and by the third leg of wave C,
almost everyone realizes that a bear market is firmly entrenched. Wave C
is typically at least as large as wave A and often extends to 1.618
times wave A or beyond.
Wave 4: Wave four is typically clearly corrective. Prices may
meander sideways for an extended period, and wave four typically
retraces less than 38.2% of wave three (see Fibonacci relationships
below). Volume is well below than that of wave three. This is a good
place to buy a pull back if you understand the potential ahead for wave
5. Still, fourth waves are often frustrating because of their lack of
progress in the larger trend.
Wave 5: Wave five is the final leg in the direction of the
dominant trend. The news is almost universally positive and everyone is
bullish. Unfortunately, this is when many average investors finally buy
in, right before the top. Volume is often lower in wave five than in
wave three, and many momentum indicators start to show divergences
(prices reach a new high but the indicators do not reach a new peak). At
the end of a major bull market, bears may very well be ridiculed
(recall how forecasts for a top in the stock market during 2000 were
received).
Webpage: CheckpointUSA.Org
Dedicated to confronting roadblocks to freedom wherever they may arise.
Special attention will be given to physical roadblocks designed to
impede the right of Americans to travel freely within our own country
but attention will also be given to general violations of our right to
privacy.
3,451 days after being seized, detained, dragged out of my vehicle & arrested at an illegal general law enforcement roadblock conducted by Tohono O'odham Police Dept. officers with the assistance of Senior Special U.S. Customs agents along with dozens of U.S. Border Patrol agents, Checkpoint USA's lawsuit has finally settled for $210,000 exactly 3,087 days after it was filed.
U.S. Correspondent with Esquire Magazine U.K.
Entire BONUS interview below
(Click 2nd Hour PLAY Button)
Bengali from Wimbledon gets a degree in philosophy from Cambridge University, then tools around in a band. Joins GQ,
has a blast, becomes features ed. Then turns freelance and moves to Los
Angeles to spend the next nine years writing features about fringe
groups and subcultures, sex, crime, entertainment and boxing. Work
appears in the UK and the US, in titles like Details, the Los Angeles Times, Marie Claire, GQ and the Observer. He's currently the US Correspondent for British Esquire.
Then - polygamy. A piece for Marie Claire leads to a
documentary for Channel Four leads to a book deal in which he spends
far too long exploring Mormon fundamentalism in the American West. Which
leads to Secrets & Wives: The Hidden World of Mormon Polygamy (Soft Skull Press), which comes out Spring 2011.
And in amongst all this, he moves to India for a couple of years to edit lifestyle magazines for men. First GQ India in Bombay and then some others at the India Today Group in Delhi. India
is full of surprises, not all of them pleasant. But never mind. He
returns to LA, continues to work on books and articles and such.
Bengali from Wimbledon gets a degree in philosophy from Cambridge University, then tools around in a band. Joins GQ,
has a blast, becomes features ed. Then turns freelance and moves to Los
Angeles to spend the next nine years writing features about fringe
groups and subcultures, sex, crime, entertainment and boxing. Work
appears in the UK and the US, in titles like Details, the Los Angeles Times, Marie Claire, GQ and the Observer. He's currently the US Correspondent for British Esquire.
Then - polygamy. A piece for Marie Claire leads to a
documentary for Channel Four leads to a book deal in which he spends
far too long exploring Mormon fundamentalism in the American West. Which
leads to Secrets & Wives: The Hidden World of Mormon Polygamy (Soft Skull Press), which comes out Spring 2011.
And in amongst all this, he moves to India for a couple of years to edit lifestyle magazines for men. First GQ India in Bombay and then some others at the India Today Group in Delhi. India
is full of surprises, not all of them pleasant. But never mind. He
returns to LA, continues to work on books and articles and such.
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