Now in the 2nd edition, Robert Prechter’s New York Times and Wall Street Journal business best-seller Conquer the Crash remains a very useful read. To give you an idea of just how useful, we are releasing 8 chapters of the book to all 150,000+ free members of Elliott Wave International’s Club EWI. Here’s an excerpt from Chapter 23, ‘What To Do With Your Pension Plan.’ Enjoy.
How Might Gold, Silver and T-bonds Behave in a Bear Market?
April 8, 2010 by Leave a Comment
Can you imagine a scenario under which precious metal and Treasury bond prices would fall together? Most people would think such an event would be impossible. Yet look at this chart and realize that gold and T-bonds have been going up together for an entire decade…
Robert Prechter on Herding and Markets’ “Irony and Paradox”
February 11, 2010 by Leave a Comment
Have you ever watched a dog interact with its owner? The dog repeatedly looks at the owner, taking cues constantly. The owner is the leader, and the dog is a pack animal alert for every cue of what the owner wants it to do. Participants in the stock market are doing something similar. They constantly watch their fellows, alert for every clue of what they will do next. The difference is that there is no leader. The crowd is the perceived leader, but it comprises nothing but followers. When there is no leader to set the course, the herd cues only off itself, making the mood of the herd the only factor directing its actions.
