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That being said Prechters's book offers a basic guide into the fundamentals of Eliiot Wave analysis. The principles of the analysis are the belief that there is information to be gained from the price action of stocks (e.g. the implict information of transactions by traders) and that there is a natural flow to these price movements (e.g. stocks don't go up in one direction).
In incorporating price information, the belief is that stocks move in a 5-wave impulsive pattern, which can be either bullish (up) or bearish (down). A 5-wave move is followed by a 3-wave corrective pattern. Larger cycles are basically an aggregation of many 5- and 3-wave patterns. If believed to be true, the practical benefit of understanding waves and cycles is that investors can use this information to identify "where" they are in the cycle of a stock's movement.
The book follows the basics of identifying waves and cycles with some historical and matehmatical background information. This is where Pretcher ties the material in with nature. He believes that waves move in a natural way, which can be described by the Fibonacci sequence and Fibonacci ratios. He advocates using Fibonnaci ratios to forecast the distance (e.g. percent change) and timing of stock price movements. I found this material to be the most informative since it provided background reading on Fibonacci numbers which many technical traders employ in the various tools they use. Now I know what they are talking about.
The rest of the book can be skipped. It is primarily an application of Elliot Wave to various historical contexts. Of course, Pretcher draws on examples that fit nicely with the belief that Elliot Wave has strong predictive abilities. If I recall correctly, the author does close the book with his predictions for the stock market and did correctly predict a long-term bullish Wave 5 coming out of 1982-83.
Manus J. Donahue III
An Introduction to Chaos Theory and Fractal Geometry
Elias Yoseph, Virginia
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published in The ROBERT FROST REVIEW,
Fall 1999, pages 75-80.
Copyright (c) 1999 by John Ridland:
Who's this book good for in the end?
Anyone, whether foe or friend
Of Frost, or neutral, to explore
His "world" (and ours)--an open door,
Just as its press release declares,
Which leads up/down Escherian stairs,
For "poetry lovers, scholars, schools,
Libraries", with the learning tools
Laid in our hands, or CD drawer,
(Which true-blue Luddites will deplore
As treacherous tautology)
By our last century's technology--
Or several doors by which to enter
And search for one who, in the center,
Sits, like his "Secret" I once got
In a fortune cookie, I kid you not!
HIS Secret, which this disk will guard,
Is out: he's still America's Bard.
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Still, for Frost afficianados, this book is a fix. Contains much personal information about his rotten personality, but most of us have heard that before. If you had written "Stopping by Woods," you would have a right to be a so-and-so sometimes.
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This book is a pictorial chronicle, starting from when Robert Frost's first poem. It takes you on a journey through the life of Robert Frost. I found the book somewhat hard to read do to long sentences and how often the righter switched the subject. This book was well written with interesting information released about Robert Frost and his family, but most of all about Robert Frost's personality and feelings expressed.
The book is hard to follow, but the information is amazing. I would rate this book with three stars. The book is written to allow to visualize the settings which makes it a little easier to read, but the book jumps from subject to subject with no warning is witch is why I give it three stars. I would insist that anyone who is interested in poetry read this book, because you see the day to day life of an outstanding poet.
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