Jim Cramer of CNBC hated this stock all the way up to 100 a breach of 100 made him turn very bullish. MCD is down almost 10% since he made that call (I was looking for a top on MCD at 1/1/2012 as visible on the first image above). His call could be a reflection of the mass optimism on wall street or he could be participating in an effort to distribute MCD shares to the public in anticipation of a decline. Similarly the 'generation' call made by Goldman Sachs to get into stocks right into the April peak in equities could be interpreted in either way, however the end result will be the same, a complete destruction of their reputation which is exactly what occurred in 1929 where investors lost 99% of their investments with Goldman's 'investment trust'.
Regards,
Ahmed Farghaly
Hi, just curious that why it seems that some elliotticians are so hell bent on calling for a world collapse? It's been like that for years, well, at least for as long as I've known EW. Nothing persona. Just wonder about what's that collective groupthink like thought process.
ReplyDeleteWell, The calling for a collapse that you are referring to Is due to a long term chart dating back to the 1932 lows in the DJIA (which takes time to unfold). Its not a world collapse that ellioticians are calling for its a collapse of the developed world due to unprecedented credit expansion similar to what occurred in every depression recorded in history. Bear in mind that ellioticians do have alternate counts. The best case scenerio is a substantial sell off of similar magnitude as 2011 (which seems too optimistic almost impossibly optimistic) Knowing the elliott wave would have protected you from 1929, 1966-1974, 1987,2008 and now 2012-2015? That how I use elliott, to detach myself from the crowd at times where it is almost impossible to do so.
ReplyDeleteThanks for your inquiry
Ahmed Farghaly