Traders take a good system and destroy it by trying to make it into a perfect system.

From the starch-heavy 'food pyramid' to ethanol fuel, the government adopts programs not because they are right but because they gains votes, money or political power or solve problems that politics has already created, such as silos full of subsidized wheat or a shortage of gasoline due to the maze of controls on refining.

The correct method for tracking the stock market is to use semilogarithmic chart paper, since the market's history is sensibly related only on a percentage basis. The investor is concerned with percentage gain or loss, not the number of points traveled in a market average. Arithmetic scale is quite acceptable for tracking hourly waves. Channeling techniques work acceptably well on arithmetic scale with shorter term moves.

The Nixonization of Obama has started. The Hooverization comes next.

Government does not have magic powers. In fact, the opposite is true; it is the least effective agency invented by man.

I have never seen a market unfold in other than an Elliott Wave pattern.

There's nothing wrong with cash. It gives you time to think.