This doesn't look good.


    Murray Gunn, the head of technical analysis

This is basically like being the phrenologist-in-chief or the senior palm reader.

    Gunn uses a type of technical analysis called the Elliott Wave Principle, which tracks alternating patterns in the stock market to discern investors' behavior and possible next moves

And Elliott Wave theory is hilarious. Burton Malkiel gave a bunch of Elliot technicians a "stock curve" generated by flipping a coin. They all predicted that the stock would immediately gain, except for the 20% who predicted it would immediately crash.

posted by steve: 1010 days ago