Just like Elliot Wave Principle, its super-bullish predecessor from 1978, this updated and abridged paperback version of At the Crest of the Tidal Wave presents a scenario that appears too dramatic and specific to be more than unfounded conjecture. However, the author's forecasting toll is again the only one that has proved its value in addressing future market probabilities. The result is social science at its best. If even half of the author's forecasts come to pass, the world of finance just a few years hence will be immeasurably different from what it is today. Using the same precise approach that he employed a month after the 1982 low at Dow 777 to forecast a great bull market that would carry the Dow Industrial Average to near 4000, Robert Prechter now calls for slow motion economic earthquake that will register 11 on the financial Richter scale. The Great Assert Mania of recent years is in its final euphoric months, he says, and the next event will be a collapse of historic proportion. If you are already well versed in the Wave Principle and prepared for the change that is coming, then ignore this book. If you are not, then devour it cover from cover. Be prepared for a shift in the tectonic plates that make up your mind's notions about financial causality. Above all, get ready for a violent shaking of your faith in conventional economic wisdom.
'1996 Book of the Year'
- The 1996 Supertrader's Almanac
'The icy logic and stunning originality with which Pretcher predicts the impending death of our Grand Bull Market make At The Crest of the Tidal Wave eminently worthy of attention. But the fact that years ago this same author stood virtually alone in prophesying the birth of this very same bull market renders his current vision absolutely indispensable to serious investors.'
- Paul Macrae Montgomery, Legg Mason Wood Walker
'Read this book. You may not agree, but you must understand Pretcher's argument. Ignorance may not be bliss; it may mean bankruptcy. Ignore this message at your risk.'
- Richard D. Lamm, Dartmouth College Fellow, Governor of Colorado 1975-1987
'There is an old Arab proverb which says that 'when you go shopping for wisdom, visit every tent in the bazaar'. When Robert Prechter published his first book in 1978 predicting the super bull market of the 1980s, only a very few people visited his tent. I hope more people will visit his tent today, in order to understand the financial, economic and social implications of At the Crest of the Tidal Wave.'
- Marc Faber, Faber Ltd, Hong Kong
2. Patterns and Their Implications
3. The Inflation-Ajusted Dow
4. Time and Price Considerations for the Final Top
5. Expectations for the Great Bear Market
6. The Dow Jones Transportation Average
7. The Dow Jones Utility Average
8. The Broad Indexes and Secondary Stocks
Technical Analysis
9. Momentum Considerations
10. Investor Psychology: Valuation
11. Manifestations of Investor Psychology
12. The Role of Fundamentals
Part 2: Other Areas
13. The Economy
14. The Monetary Outlook
15. High Yield Bonds
16. High Grade Bonds
17. Gold
18. Commodities
19. Collectibles
20. Real Estate
21. How to Handle the Coming Environment
Appendix A: A Capsule Summary of the Wave Principal
Appendix B: The Message from Fixed Time Cycles
Appendix C: U.S. Stock Values in Terms of Gold
Appendix D: Illustrations Updated Through May 1996
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