Never say never, but I for one don't believe it. Jeff Christian in the first hour said something similar.

I was an EW follower as I think the theory has some merit; but it is very dependent on the analyst. In almost every situation there can be a bullish or bearish series of future waves projected so the effectiveness of the theory is limited by the beliefs of the analyst. Wrong premise, wrong conclusion.

While the Prechterites have finally moved over to the bullish (long term) camp for gold (it has taken them about 5 years to make that shift) they are still short term bearish an outlook they have held since gold broke 300.

With a record like that I tend to discount what they say mightily.

I can see the possibility of gold making one more correction to the 800 - 820 range but the world is coming unglued so fast at this point that technical analysis has to take a back seat to (long term ) fundamentals and (short term) international news and on-going manipulations.

P.

Elliott Wave theory is fine if the practioners are not blinded by preconception and are looking for those few times when there is no alternate wave sequence to make their play