If you happened upon the Devil himself -- perhaps as he strolled a country lane or sat on a park bench -- he'd say that much of what he knows about tripping up people he learned from the Market Trickster.
Trickster laughs at those who stay out of a rising market for a long time, only to get in when the trend is about to turn. When a downturn arrives he knows they'll be wedged between the fear of having made a mistake, and the hope that prices will turn back up.
Trickster is at his best after what investors think is a "game changing" market swoon -- and then the market does rally. Consider what happened after prices fell in early August, and then several weeks of rally followed.
Robert Prechter acknowledged the market's tricky maneuvers in the September Elliott Wave Theorist:
"After sharp drops, the market rises slowly, sucking investors in, purring, “The water’s fine…nice and calm…no sharks.” After enough time goes by, people get enticed by the fun and wade back in. And then wham, a rogue wave hits and the sharks attack. This sequence is likely to happen a number of times before the bear market finally bottoms."
And with each "sequence," investors are fooled. Many are intelligent people who are accomplished in other areas of life. Who, for example, achieved more in his field than the scientific genius Sir Isaac Newton? Yet in truth, he invested near the top of one of the biggest financial bubbles of all time: the South Sea Bubble:
When the bubble burst Newton lost the equivalent of a million dollars.
Back to the present. Trickster may be working on his biggest market set-up ever. He's cleverly created an entrenched investment psychology which says "stocks always go up."
The long-term market rise from the early 1980s through the 2007 all-time high helped create that psychology. How historic has Market Trickster's set-up been?
In the August Elliott Wave Theorist, Robert Prechter was referring to the "greatest bull market that's ever occurred" when he said: "It even outstripped the South Sea Bubble and the great Tulip Mania in Holland in the 1600s."
Will the downside of the biggest bull market ever "match" the long upside?
Read our forecast and you'll see what the Wave Principle is showing us.
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As you read, you'll learn the answer to the question "why have we been projecting extremely low prices?" Moreover, you'll see charts which show those astonishing price levels, based on long-established Elliott wave guidelines.