Runaway Bull?

By: Joseph Russo | Mon, Jun 18, 2007
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Coming off a highly erratic two-week period, with certain indices revisiting old territory, and others moving into uncharted waters, one must conclude that the financial sphere is obviously a bit insecure here.

Is a runaway bull upon us, or is this a last thrash of erratic house cleaning by the shopkeepers? In due course, we shall know whether this bull has legs, or if it is a mere fish-out-of-water - in the throws of its last rally spasms toward sheer exhaustion.

Such volatile behavior also begs the question; how is it remotely possible that markets "are always right" when they display day-to-day behavior that clearly suggests they are flat-out wrong, outright deceptive, or at best - largely confused as to their general intent, direction, and metrics of valuation?

Speaking of revisiting old-territory, after spending the past eight-years in previously uncharted territory, (the Gold Coast of southern California) Elliott Wave Technology will be moving operations across-country, back to its territory of origin - New England - home of the hedge funds.

Just beyond the borders of NYC, some 45-minutes from Wall Street, and about 15-minutes from the Greenwich, CT estate of the infamous Paul Tudor Jones, we will be setting up shop over the Labor Day Holiday.

Traversing freely between America's wealthiest coasts is a distinct privilege, and in this case, one of duty and honor to family. Typical of baby-boomer demographics, circumstance has arrived in which a remaining parent (Happy Fathers Day Pop!) requires honorable attention and dutiful presence.

During transition, our regular service publications will continue unabated. Further, we shall make every effort to continue providing general readers with condensed versions of our regular market commentaries until we are settled.

The June 10, Volume 3, of our Index Traders Edge included the regular feature in which we highlight specific forecasting results and trading points extracted from our Near Term Outlook publication. We will temporarily omit this segment due to the time constraints surrounding our imminent transition.

Rest assured however, that across all time frames, our methodologies continue to perform brilliantly! We shall resume inclusion of this feature highlight just as soon as time permits.

That said - let's see how the major indices faired last week, and what might be in store for the week ahead.








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Joseph Russo

Author: Joseph Russo

Joseph Russo
Chief Editor and Technical Analyst
Elliott Wave Technology

Joseph Russo

Since the dot.com bubble, 911, and the 2002 market crash, Elliott Wave Technology's mission remains the delivery of valuable solutions-based services that empower clients to execute successful trading and investment decisions in all market environments.

Joe Russo is an entrepreneurial publisher and market analyst providing digital online media solutions designed to assist traders and investors in prudently and profitably navigating their exposure to the financial markets.

Since the official launch of his Elliott Wave Technology website in 2005, he has established an outstanding record of accomplishment, including but not limited to, ...

  • In 2005, he elicited a major long-term wealth producing nugget of guidance in suggesting strongly that members give serious consideration to apportioning 10%-20% of their net worth toward the physical acquisition of Gold (@ $400.) and Silver (@ $6.00).

  • In 2006, the (MTA) Market Technicians Association featured his article "Scaling Perceptions amid the Global Equity Boom" in their industry newsletter, "Technically Speaking."

  • On May 6 of 2007, five months prior to the market top in 2007, though still bullish at that time, he publicly warned long-term investors not to be fooled again, in "Bullish Like There's No Tomorrow."

  • On March 10 of 2008, with another 48% of downside remaining to the bottom of the great bear market of 2008-2009, in "V-for Vendetta," using the Wilshire 5000 as proxy, he publicly laid out the case for the depth and amplitude of the unfolding bear market, which marked terminal to a rather nice long-run in equity values.

  • Working extensively with EasyLanguage® programmer George Pruitt in 2010 and 2011, the author of "Building Winning Trading Systems with TradeStation," he assisted in the development of several proprietary trading systems.

  • On February 11, 2011, he publicly made available his call for a key bottom in the long bond at 117 '3/32. Within a year and half from his call, the long bond rallied in excess of 30% to new all time highs in July of 2012.

  • For the benefit of members and his general readership, he responded to widespread levels of economic and financial uncertainty in the development of Prudent Measures in 2012.

  • He publicly warned of a major top in Apple on October 26, 2012 in the very early stages of a 40% decline from its all time high.

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TRUE MONEY SUPPLY

Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/