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"Thanks very much for the taking my phone call yesterday. You were spot on with your assessment. You hit the nail right on the head. The biggest thing that came out of the call was the retracement aspect of the my trade entry criteria. While I was picking C3 entries and placing good IPS's previously I just wasn't assessing what the probable retracement of the trade could be, and that obviously contributed markedly to my down fall. I know we covered it while I was with you, but for some reason I just wasn't bringing it into my entry criteria. Thanks again, I get so much from your insights - keep it up."
- M.Q., Antigua, West Indies

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Elliott Wave International NewsWire

GONE FISHIN’



Corn: Is The Bullish Party Over?

Fact: Corn prices have officially gone from sizzling to fizzling. On Tuesday, June 30, the grain's prices plunged to the Chicago Board of Trade's imposed daily down limit to end at a fresh, four-month low. As for why-- the mainstream experts pointed their accusatory finger at two specific U.S. Department of Agriculture reports. To wit:

Some Thoughts on the Fractional Reserve Banking System

Here's an interesting question we've just received at EWI's Message Board: "Dear EWI, as the Madoff hoopla is going full blast today on TV, I would be interested to hear your thoughts on this question: Are today's banks in their vast majority also massive ponzi schemes?" Answering a question like that can be a simple matter of definitions -- so let's give it a shot...

Dow Jones Industrial Average at 173? Not if... but Now!

True or False: The “Real” Dow Jones Industrial Average has rallied more than 30% from its March 2009 low, standing near its highest level in nearly six months. That depends on who you ask. According to the mainstream experts, the answer is clearly YES. For many in this camp, the Dow’s upsurge is the “slow and steady” start of a new, “healthier” bull market.

(c) 2009 Elliott Wave International

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