DJ Waves

[newschoolwaver]

Thought I had better start my own thread rather than tread on oldschoolwavers toes. Only come across this site recently with my first post (and a few others) on oldschoolwavers thread. I wanted to run my wave count past him so joined up and posted it. (Now you know how I got my name.) Anyway, I shall use this thread from now on and have attached some of my previous Dow prediction's that I posted on the other thread.

 

[newschoolwaver]

This has been some ride up and has followed my 14th August prediction.
Time for a slice of the 'shorting cake'.
Dow 11950. Wow.

 

[newschoolwaver]

Even the most proclaimed waver, Robert Prechter of www.elliotwave.com got the wave count of the Dow wrong which proves that counting waves before the event can never be taken too seriously. He charges to share his wave count with his subscribers and has been wrong since declaring the Dow had hit its peak in 2000 and that we are now in a long term bear market that would take the Dow down to three figures! Since the new highs of this month, his wave count has been shot down in flames and I guess his subscribers are leaving in droves with empty pockets.

The moral of the story with counting waves: - It is always easy to count the waves and make them fit after the event and something you should not have to pay for before the event as it is a best guess. And guessing can sometimes be wrong as well as right.

My best count has been correct so far and I display it here for free, but remember it is a guess at where the Dow is going. Every waver who counts waves should have an alternate count in case his best count is proved wrong. Here I display my best count with my alternate count.

(If the graphic is not clear on your PC, email me and I will send you the original or perhaps someone can tell me how to post graphics for all to see clearly.)

 

[newschoolwaver]

My prediction on the 25th September is right on track. The Dow should now fall making lower lows all the way down to the October 2004 lows.