Quote:
Originally posted by MattK@Jun 17 2003, 04:48 PM
The theory behind it regarding the brain's herding impulse is pretty interesting.
|
This is certainly not something new. Research the Mississippi Scheme, Tulip Mania or the South Sea Bubble. People have been writing about "crowd behavior" for a thousand years or more.
R.N. Elliott just observed the "wave" pattern and attributed it as such. Same with market distribution (bell curve), Drummond Geometry, etc.
After many years of observing markets, fundamentals and technicals, I certainly believe that mass social psycholoy is patterned while at the same time irrational.