Navigating in another lost decade?

I was in Budapest for a market conference. The theme was based on Martin Pring’s recent book, ‘Investing in another lost decade’. Pring is the second generation of technicians along with John Murphy and Robert Prechter. Pring’s generation followed the generation of J. Welles Wilder, Joseph E. Granville and Ralph N Elliott.

An evening prior to the meeting, I told Martin that I went through his slides and the price structure seem to suggest that the answer to the lost decade was negative rather than affirmative. He said “I got it all wrong”. He had made an affirmative case. He believed we were headed for a lost decade.

Of course I was biased, opinionated, and seeking a confirmation of my analytical case of DOW 20,000 in Martin’s work, which was totally bearish. The visuals were the same but my interpretation contrasted his. The next day when Martin presented the case; I holding true to my opinion (hard to abandon them) reasoned again with some observations and queries after his talk.

This is what he said. ..

You can read the complete article in Business Standard

Mukul Pal, is a Chartered Market Technician, MBA Finance and a member of the reputed Market Technicians Association (MTA). He has more than a decade of Capital Market experience dealing with derivatives and global assets. He has worked for Bombay Stock  Exchange, multinational Banks and brokerage houses in leading research positions before starting on his own in 2005. He is the President of the MTA Central and Eastern European Chapter.


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