Elves
Categories: Charts
Once upon a time, there was a show called Wall Street Week on PBS. The show would feature a group of analysts who gave their opinions on where the market was headed. These analysts became collectively known as the "elves" (calling them hobbits seemed insulting).
They used technical analysis to predict market changes, but the joke was this: the elves were almost always wrong. The views of the elves were combined into the tongue-in-cheek "Elves Index." The whole gag was dropped shortly after 9/11.