Double Dip, 2nd Wave, 3rd Wave, Ghost Month or Friday the 13th

There are a lot of talks about a double dip recession on the news lately. I'm listening, but I'm not yet convinced, due to the following reasons :

1. Although, I have been hearing of layoffs happening this is just a result of the management playing too defensively.

2. No bankruptcy filings.

3. There's no collapse because, there's no bubble to begin with. (2007-2008, CDOs, Easy Consumer Loans and Mortgage).


My idea is that, this sell down in the stock market is either Wave 1 or Wave 2 of the Elliot Wave. Whatever the wave is, it's going to go up.

Let me know what you guys think.