The Elliott Wave Theorist

Infobox Newspaper
name =
type = Monthly newsletter
format = Letter size
owners = Elliott Wave International
publisher = Elliott Wave International
editor = Robert Prechter
foundation = April 1976
language = English
headquarters = Gainesville, Georgia
website = [http://www.elliottwave.com elliottwave.com]

"The Elliott Wave Theorist" is a monthly newsletter published by Elliott Wave International. The first issue of the "Theorist" published in April 1976 and has been continuously in print on a subscription basis since May 1979. The publication includes Elliott wave analysis of the financial markets and cultural trends, plus commentary on topics that include technical analysis, behavioral finance, physics, pattern recognition, and socionomics. Robert Prechter is the publication's editor and main contributor; the "Theorist" has also featured numerous guest essays."The Elliott Wave Theorist", Elliott Wave International, Gainesville, GA. Essays include Peter Brandt, April 1991; Anne Crittenden, December 1997; Paul Macrae Montgomery, November 2000; Mark Galasiewski, July 2006.]

History

The "Theorist " began as Robert Prechter's vehicle for Elliott wave market opinions when he worked as a technical analyst at Merrill Lynch. The publication gathered a following, and Prechter continued to offer it via subscriptions after he left Merrill in 1979.In the early 1980s, the "Theorist " issued an aggressively bullish stock market forecast; its prominence grew, and the number of subscribers eventually reaching some 20,000. [Grimes, Millard (August 1994). "Whatever happened to Robert Prechter?", "Georgia Trend" magazine, p. 24.] That number declined in the 1990s (as did subscription levels among financial publishers generally), though the "Theorist" remains frequently cited on financial websites, [ [http://www.investopedia.com/university/advancedwave/elliottwave1.asp Investopedia] , retrieved July 10, 2007.] in blogs, [ [http://blogsearch.google.com/blogsearch?hl=en&tab=wb&q=%22Elliott+Wave+Theorist%22 Google blogsearch] , retrieved July 10, 2007.] newsgroups, [ [http://groups.google.com/groups/search?hl=en&q=%22Elliott+Wave+Theorist%22&qt_s=Search+Groups Google groups search] , retrieved July 10, 2007.] books, [Heady, Christy (2000). The "Complete Idiot's Guide to Making Money on Wall Street", Alpha Books, pp. 100-102. ISBN 0-02-863849-2.] scholarly papers, [Olson, Kenneth R. (2006). "A Literature Review of Social Mood," "Journal of Behavioral Finance", vol. 7, no. 4 ( [http://www.leaonline.com/doi/abs/10.1207/s15427579jpfm0704_2 abstract here] ), pp. 193-203.] [Prechter, Robert R., Jr., and Wayne D. Parker (2007). "The Financial/Economic Dichotomy in Social Behavioral Dynamics: The Socionomic Perspective," "Journal of Behavioral Finance", vol. 8 no. 2 ( [http://www.leaonline.com/doi/abs/10.1080/15427560701381028 abstract here] ), pp. 84-108.] and by major media. [Brimelow, Peter (June 30, 2003). [http://www.marketwatch.com/news/story/prechters-bearishness-permanent/story.aspx?guid=%7bD3722ADE-4B6C-4C38-9834-2C01D77893AB%7d&print=true&dist=printTop "Is Prechter's bearishness permanent?"] , Dow Jones Market Watch, retrieved July 10, 2007.] ["A Sampling of Advisory Opinion"(May 30, 2005) "Barron's".] The newsletter has earned several awards, including "Hard Money Digest's" "Newsletter Award of Excellence," ["Hard Money Digest" (January 1985), p. 3.] and "Timer Digest's" "Timer of the Year." ["Timer Digest" (Dec. 31, 1984), cover.] The "Theorist" has also included commentary for which contributors were criticized, including the forecast of a long-term bear market in the U.S. stock market. [Power, William (August 19, 1993). "Robert Prechter sees his 3600 on the Dow--But 6 years late," "The Wall Street Journal", p. 1.]

Distinction and controversy

The "Theorist" has featured several topics of distinction and controversy. Prechter's August 1985 "Theorist" essay "Pop Culture and the Stock Market" preceded a shorter version of the September 1985 cover story essay in "Barron's", "Elvis, Frankenstein and Andy Warhol." [Prechter, Robert R., Jr. (September 9, 1985). "Elvis, Frankenstein and Andy Warhol," "Barron's".] Following Benoit Mandelbrot's 1999 "Scientific American" article "A Fractal Walk Down Wall Street," [Mandelbrot, Benoit (February 1999). "Scientific American", p. 70.] the "Theorist " ran detailed criticism of that article, saying that Mandelbrot took credit for ideas that "originated with Ralph Nelson Elliott, who put them forth more comprehensively and more accurately with respect to real-world markets in his 1938 book The Wave Principle." [ [http://www.elliottwave.com/response/default.htm Details here] , retrieved July 10, 2007.] In recent years the "Theorist" has been credited with popularizing market indicators such as the “skyscraper indicator,” [Downes, John Jordan, and Elliot Goodman (1990). "Barron's Finance and Investment Handbook", 3rd ed., Barron's Educational Series, pp. 375-376. ISBN 0764155547.] and been a forum for ideas and research regarding socionomics from Prechter and others, such as the 2006 essay, “Social Mood and Automobile Styling,” which received wide media coverage. [ [http://www.google.com/search?q=colors+%22Mark+Galasiewski%22&hl=en&start=10&sa=N Google search on coverage of the essay.] ]

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