Elliot Wave International Elliot Wave Analysis Internet

I am loathe to admit I have been a subscriber to Elliot Wave International's analysis newsletters for a number of years. I have spent thousands of dollars on their anaylsis.

They are not dishonest. They are just wrong most of the time. Then, they only brag about the few times they were right.

Perspective: During all that is outlined below, EWI (Elliot Wave International) has maintaned the position that March 2009 bottom was a first step in a massive bear market that would eventually draw the DJIA to lows near 400. That is not a typographical error. 400.

I recommend you pull up a long term chart of the DJIA and check the dates of these forecasts against the chart.

*On June 11 2009 they they wrote in the Elliot Wave Theorist: "The partial recovery is already maturing."

*On July 17 2009 the Elliot Wave theorist headlined: "The bounce is aging, but the depression is young."

I dropped the subscription for a few years.

*In December 2011 the Elliot Wave Financial Forecast wrote: "BOTTOM LINE: The stock market started the next significant phase of its long term bear market back on May 2, when the DJIA pushed to a high at 12,876 then reversed lower." In the same paragraph, "The most recent push should roll over into a broad based selloff that draws all equity indexes lower."

*In December 2011 the Elliot Wave Theorist wrote: It took a while, but every market is going our way." In the same issue, they said "If the market tries to bounce during the traditionally strong late december Early January period, any rally should stay in the context of a bear market."

*On Jan 5 2012 the Elliot Wave Financial Forecast wrote: "The rally's upward momentum is waning..." and "the end of this counter trend push should lead to the next major wave down, with nearly every sector participating in the selloff."

*On Jan 20 2012 the Elliot Wave Theorist headlined: "CENTURY-LONG TRENDS ARE ROLLING OVER"
On Feb 17 the Theorist admitted, "On Jan 10, EWT recommended speculators sell short the S&P with maximum leverage." Look at a chart to see how that turned out.
Around Feb 21 Theorist-advised investors were stopped out of a leveraged short position on gold.

*On March 1 2012 the Elliot Wave Financial Forecast said: "BOTTOM LINE - The stock market's rally is tiring..." then went on to prove they were going to be right. They were wrong yet again.

*On Mar 14 2012, the Theorist recommended, "Speculators should return to short the S&P with maximum leverage." 6 months later, the markets broke decisively to new highs, and the Elliot Wave bears were again forced to modify their wave counts. I never saw an exit recommendation, but they had a stop around S&P 1490.

*On March 29 2012 the Elliot Wave Financial Forecast said: BOTTOM LINE The stock market is at or very near the end of its long counter-trend rally..." Later in that issue, "A compelling sign of a reversal into the next leg of the big decline is surfacing of the survivor motif in ... The Hunger Games."

It goes on like this ad nauseum, until I finally terminated the subscription in September 2013. If you want to gamble on the markets tyou don't need to pay these guys hundreds of dollars a month to lose money.