Insights in Economics and Sports investigates and catalogs interesting events with regards to philosophy and economics.
Thursday, April 9, 2009
Elliot Wave Theory Part Deuce
The attractiveness of Elliott Wave Analysis is : Three impulse wave forms and six corrective wave forms are conclusive. All we have to do is to identify which wave form is going to unfold in order to predict future market actions. This is a bold statement, needless to say, knowledge of market historical wave patterns and experiences in wave count are of paramount importance.
I've had musings about the important of lag between bettors knowledge ofa team and its actual skill. Wave theory could replace all that. Instead of analyzing the teams, I simply am analyzing the bettors. Instead of watching the games, I'm watching the people watching the games. This means that there is no team. There is no game. There is only a market of people watching the game. This stuff could be truly ground breaking in nature.
I really think this stuff is dead on and I need to analyze it stat. This taps into the greatest weakness of the sports betting market that I've bemoaned repeatedly. Namely, there is no historical data available. As soon as the game happens the spread disappears and never comes back. One has to record the spread or lose it forever. Maybe if I wrote a casino I could get the answers from them. Who knows?