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Elliott Wave Financial Forecast

The Elliott Wave Financial Forecast (EWFF) uses the Wave Principle to prepare subscribers for likely intermediate-term market moves before they happen. Co-edited by Steven Hochberg and Pete Kendall.
 
 
 
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Waves Are Important
First, let me say that Elliott Waves are over-hyped by those that follow them closely and especially by those that write about them. ...
jj1
 
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Painfully DEAD WRONG
I have been a subscriber of EW since early 2008 and I have read every monthly Financial Forecaster and Theory to date. Robert Prechter has been a raging bear since pretty much the mid 1990s. He claims to have been bullish prior to the 1973 and 1982 lift off however that was 30 years ago. The site was a raging short in the late 1990s calling for tops which led to tech bubble crash of 2000-2002 but remained bearish when markets rebounded until 2007. Unless you were put in a time capsule, we all know what happened in 2008. EW claims that this was a "credit bubble" and dismisses it's incorrect calls as 2008 financial crisis led to S&P 500 hitting 666 mark. I will give them one credit is that they called the bottom within a month of the upturn in the markets calling for a "bear market rally." They got very bearish again in April of 2010 just prior to the "flash crash" a month later but on the market went (UP). They fed on the bearish call post USA credit downgrade; UP and away in fall of 2011. The rally from March 2009 low to 2013 has been meaningful, leading to new fresh highs on the Dow Industrial Jones. When market levels hit highs such as this, it is NOT a bear market rally but EW still thinks so.

What really pisses me off is that they have lost money OVER and OVER for its subscribers but they continue to lure new bearish subscribers in by advertising in their "free clips" how they had the "right call" and made you think that subscribers were swimming in money- I don't think so. This is complete nonsense as a broken clock is right twice a day. A good example would be one article I recall; "if you had read the metals report, you would have read that EW predicted the downturn in Silver/Gold on 00/00/0000." Well, they have been calling for Silver to turn down since mid teens and up and a way it went to $50.00 and Gold to over $1900. Do you get the picture? You would be flat BROKE being on the short side. They take advantage of this during every small downturn and blow it up to be the next "BIG ONE." Ring, Ring, Ring.....Margin Call from Charles Schwab.

They criticize the media for putting out bullish calls at the wrong times (sentiment indicator). Newspapers, magazines and books all produce bullish topics of note and they state that this is typically the wrong time and view it as a contrarian indicator. If that is the case then EW's two books have come out at the absolute bottom years; in 2002 and 2009. So if he only followed his own rules, he should put out a book TODAY (Sept. 2013) when everyone is bullish. Why wait for the bottom for the three part trilogy?

What has he been right on since 2008? He was correct with his bottom in interest rates call which he wrote in June or July of 2012, weakness in emerging market currencies and I think that pretty much wraps it up. There are some good data points that he sums up in one report such as short interest trends, buy-back trends, inside sales trends, various sentiment indicators, occasional Ports cargo data, economic data etc. They were correct on the USD FX bullish call but again only for a short period.

Will you make money if you subscribe? Probably NOT but you will be prepared for a downturn when the globe melts down, IF it does that is. Markets correct every 6-8 years and I'm sure their subscriber growth numbers climb during years of uncertainty and they feed on that during those periods. I would point you to read zerohedge.com which is free and has many cynical commentary as well.

Let me end it like the Elliot Wave way; "the market is in an ideal position for a fresh move down HOWEVER it can rally to new highs which would be labeled c of V wave which should be a throw-over rally." How can you go wrong with that call?

This review is the subjective opinion of an Investimonials member and not of Investimonials LLC
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Bearish bias ruins credibility
These guys are basically permabears who are constantly trying to use the Elliott Wave to show that the end of the world is just around the corner. If the wave count end up not fitting their prediction, they change the "alternate" wave count.

For objective Elliott Wave analysis, you can't beat Tony Caldero. His site is free.

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The theory seems logical and their analysis is compelling.
Elliott Wave International makes very compelling arguments for social trends and markets to be linked together. This is very sound logic, long term. Social trends can change years ahead of markets when the fed is printing money as they are today. Robert Prechter pushes the idea that you should be long or short the market ahead of the trend change based on social mood. Being caught on the wrong side of a trade for several years can leave you flat broke when the trend finally changes.

The Short Term Update written by Steve Hochberg is deadly accurate about 10% of the time. It is like having a weather forecaster predict rain every day, they get it correct part of the time… No, wait the weather forecast doesn’t cost $60.00 per month.

Your mileage may vary.

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Started out great, then went sour.
The EW theory is intensely interesting and “should” be the premier trading indicator in the world. Unfortunately…

I have subscribed to the Elliot Wave Financial Forecast, EW Short Term, EW Theorist, EW Traders Flash Alerts (ETFs and Futures trades to make right now) and EW Intraday Index Forecasts (every hour a new forecast for the S&P, Dow, Nasdaq). I had them for 6 mos.

In May + June 2010, they were great. I was raking it in. They call you at home and email you when there would be a flash alert . Their messages "This is Elliot Wave announcing a new Trader's Flash Alert..." were like sweet + exciting music! They were around 75-80% good trades. But in July, the average started going down, and I started losing money. They were at 35.7% good trades for all of Aug, Sept, Oct 1st 3 weeks, when I cxld.



Looking back, they are bears. Lots of predictions for market downturns. In May-June 2010, the trend was down. So their forecasts were very accurate. When the market went back up, not accurate. I could not successfully use the intraday forecasts to day trade. I spent many hours tracking them, and they were around 50-55% , not enough to trust my money on.

They seem to take the internals, and say the market SHOULD go down. Often they would keep saying that the big correction is just around the corner. Maybe if there was no market manipulation, EW would work.

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Highly technical analysis.
Lost more money on this than any other service. Robert Prechter and his interpretation of Elliott Wave has been wrong practically forever!

There are too many ways to interpret Elliott Wave for it to be meaningful. You could have ten competent analysts come up with 20 different interpretations.

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Elliott Wave Principle is unmitigated balderdash!
Being a believer in waves and cycles I am embarrassed to admit that I actually thought that the Elliott Wave Financial Forecast [use it as a proxy for the EWP generally] would have some degree of accuracy. The EWP must be the biggest sting of all time. EW practitioners always but always have the top label pattern and an alternate label pattern and 9 times out of 10 the 2 patterns point in opposite directiions and they get really excited when one of the patterns works! The EWFF over the last 15 months or more has totally proved what a nonsense EWP is because it has completely and utterly failed to predict either the Dow or Gold AT ALL. Just for the hell of it subscribe for one quarter and immediately read every EWFF in their archives for the last 18 months and compare them with the price of gold and the Dow. TOTALLY INCORRECT ALL THE TIME.

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not reliable
First of all I am really impressed and bow to people using the Elliot Wave Strategy. Its is so technical and very hard to identify the waves. I admire how Elliot Wave traders mark and count the waves up and down , the mini waves etc etc. But applying the said theory and analysis on a real trend can get you really confused. and in trading confusion is a very bad thing especially on your capital.

I dont use the Elliot Wave. its to geeky for me, Simplicity and easy identification is the key to successful trading .

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AMAZINGLY INACCURATE: Don't fall for the hype
Elliott Wave theory is fascinating, I agree with that, and Elliott Wave International (EWI) definitely makes it interesting but that is overshadowed by the fact that the forecast and timing sentiments of their services are basically so inaccurate as to be worthless.

This is a racket designed to suck you in with endless explanations of theory and well written to the point you think, HEY this is great. Then you start to trade on their sentiments and you will find yourself busted broke before long.

I subscribed the main products and most important product the Short Term Update or STU as it is referenced. The guy Hochberg who writes this STU, entirely and I mean entirely missed the summer of 2010 July-Aug rally. Ever other day his STU say...'market going down imminently, bigtime!'. Of course the market went up for 5 of six weeks and then went sideways for most of three more.

Bottom line: I have been a subscriber to the STU product for six months, just cancelled. Almost ALWAYS WRONG - sums it up.

For one month early on I tried their expense FOREX STUs... Geeze absolutely worthless and entirely inaccurante but mainly just a total waste of time. Flipping a coin was just as accurate, I kept score.

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great for charting....timing is another matter.
great charts..and good alternative view to CNBC,,,lol

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Waves are important
First, let me say that Elliott Waves are over-hyped by those that follow them closely and especially by those that write about them. Second, Elliott Waves are very poor at market timing - they do not know they wave formation they are in until they are in it (and often only after it is over). That said, I regularly read their stuff because once a major turn has been made, they are among the best at providing the potential length of the move. They were several months early on the 10/07 - 03/09 selloff, but they had the magnitude exactly right. They also called the turn in March 09. However, they also called multiple tops during the subsequently rally that never panned out.

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Jj1

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