Word: sextons
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...what does make the stock market rise and fall? Mason Sexton graduated from Harvard Business School in 1972, went to Wall Street, and decided that all the traditional ways of making predictions were "at best hit or miss." Then he learned of the Fibonacci Ratio, based on the work of a 13th century Italian mathematician, and a modern development of it known as the Elliott Wave Theory, which declares that all advancing markets have five waves up and three waves down...
...timing of when these waves will bottom or crest depends very much on astrology," says Sexton, "which is simply the science of understanding the nature of time, since our sense of time depends on the relationship of the earth to the sun and moon. We are getting very close to the end of the primary wave-three rally, which has been in effect since July 1984. Then we will have a primary-wave correction, which will take eight months, representing a decline of 400 to 600 points...
That is what Sexton was saying last August, when he predicted the market would hit its peak late that month. On Oct. 2, he warned: "Any Dow close below 2387 would be a signal to sell all stocks." And he took his own advice, not only selling but also going short...
Incredible? Sexton has l,500 subscribers who pay $360 a year for his biweekly newsletter of predictions, and many have written to thank him for saving them from Black Monday. Says Marc Klee, who helps manage the $200 million American Fund Advisors: "His techniques are unconventional, to say the least, but I've been working with him three years or so, and his track record is well above average...
Administration: Suzanne Davis, Susan Lynd, Camille Sanabria, Clementina Allured, Melissa August, Sharon Boger, Donald N. Collins, Joan A. Connelly, Eileen Harkin, Susanna M. Schrobsdorff News Desks: Brian Doyle, Waits L. May III, Jacalyn McConnell, John F. McDonald, David Richardson, Adam Sexton, Pamela H. Thompson, Diana Tollerson, Joanne Waugh, Ann Drury Wellford, Jean R. White, Mary Wormley...