The Day Ahead: Why the Fiscal Cliff is a WMD
First, got to attend to some business. To the person that inquired whether I incorporate Elliot Wave Theory into my analysis, the answer is no. I can honestly care less about Elliot Wave Theory. All of my attention is 100% on utilizing every piece of fundamental analytical training I have been taught, as well as talking with the stock market on a daily basis. By all means, enjoy that Elliot Wave Theory. It's just not a tool that I will be using anytime soon.
Moving right along, observing the markets on Wednesday and I couldn't help but imagine a game of children playing telephone. There were a whole bunch of made up theses on a slow day for news. The issue I saw was that consensus wisdom on the fiscal cliff continued to leave the market too optimistic for the stone-cold truths poised to arrive in the next week or so. But a few of the weak lines of reasoning were:...549 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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