ES Journal Archive (2009 - 2010)
- Thread starter Jahajee
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For B1S2:
Elliott wave master Bob Prechter is closing his 18 month holding short SnP position here...
http://www.elliottwave.com/single-i..._the_Biggest_Trades_of_All_Time.aspx?code=cga
Elliott wave master Bob Prechter is closing his 18 month holding short SnP position here...
http://www.elliottwave.com/single-i..._the_Biggest_Trades_of_All_Time.aspx?code=cga
DOES ANYONE KNOW ANYONE WHO TOOK THAT TRADE?
ANY EVIDENCE THAT PRECHTER RECOMMENDED THIS TRADE?
Time to 'Cover' One of the
Biggest Trades of All Time
At the end of trading on Monday, Feb. 23, 2009, Robert Prechter closed the most successful trading recommendation of his 30-year career. His advice to "cover" the position came near the end of the trading day, when subscribers received the February 2009 issue of his Elliott Wave Theorist. This closed a âfully leveraged short positionâ he recommended to Theorist subscribers on July 17, 2007, when the S&P was at 1550. At the time of publication on Monday, Feb. 23, the S&P was trading below 750.
One measure of the value of this trade is the S&P mini futures contract, where each point is worth $50. A gain of 800 points on one contract equals $40,000; 10 contracts would be $400,000; 100 contracts $4 million. And so on.
A gain of 800 points in 19 months is a historical trade that, to our knowledge, has never happened before and might never happen again.
doesn't Prechter have one of the worst track records out there? I forgot where I saw that but he was at or near the bottom. does this one trade bring him up to break-even now? i don't think so.
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