This is a shocking story about financial markets in 2008

Bull and bears in a contrary strategy, used in the site tradingthecharts.com.

Jordi Moncunill works for the broker Ahorro Corporación in Barcelona, and a few weeks ago told me an interesting story.

Jordi is a strong supporter of Elliot waves theory, and in august 2006, he discovered one of the best experts in this theory. The Elliot waves was developed by Ralph Nelson Elliott in the early twentieth century, and was forgotten until Robert Prechter in 1978 wrote the book “Elliott Wave Principle: Key to Market Behavior”, while working as a market technician at Merril Lynch.

This theory is is easy to theorize, but not easy to implement. It is quite subjective and therefore depends on the interpretation of each investor or analyst. However, according to Jordi, discovered in 2006 discovered that Dominick Mazza ( nickname: SPwaver), the author of the weblog tradingthecharts.com was a true genius in using elliot waves. Dominick, professional trader, maintained its real-time predictions about the stock market and provided its readers with excellents charts and comments.

Dominick Mazza has been also writing in sites like safehaven.com or financialsense.com.

On October 9, 2008, during a new sharp drop in the stock markets, the Dominick’s Web has not update their charts and comments. All users were nervous about whether there was a technical problem, as the market would not stop falling.

Actually Dominick Mazza, died that day of a heart attack, at the age of 47 years old.

You can see this link to an article from May 2007.

You can see the message on the website of his family. Obviously the Web is no longer updated. This death is another consequence of the hard 2008 that almost no one will forget in our lives.