I recently started studying Elliot Wave theory and was think it would be an interested strategy to add to my CANSLIM routine. In other words, pick CANSLIM stocks and manage the positions based on the wave theory.

Has anyone tried this or have any experience, (good or bad) with Elliot Wave theory?

I don't know much about it but I heard Eliot missed the entire run in the late 90's.  He thought the market was topping years earlier than it did. His reliance on Linear Regression analysis doesn't take the anomolies into account.

I would be careful.

Thanks for the reply. I had heard that too about the .com bubble. I was thinking of using the technique more for timing on the individual stock side, not for market timing. In other words, I would use the Big Picture column to tell me when to get in and out of the market. But then I would use wave theory to time my buys and sells. I would still keep an eye out for volume and chart patterns...

The weaknesses of the Canslim system is ourselves, when we try to add this, that, and the other thing into it.  Deep study of Bill O'Neil's work is all you need.  He hasn't missed any market moves and has been spot on for decades.

My favorite comment regarding elliot wave.

" Pretcher has called eight of the last four recessions"

Your going to anyway,  Its America Its your money spend how you like.