taking your line #1 & 2 I came to ET in October 2009. By Feb 2010 it came as a fckin shock to me that EVERYBODY at ET trades exactly the same way, same style of chart, blanker than a shaved pussy. And they're all on 1-5 minute timeframes. JP is the only one with a variation of the standard ET style. Its relatively the same, but with a twist. ----------------------
re: stoney's 2nd last para .... last count there were 120 or so trend surfers left in the world. There used to be more apparently, but many died or quit. The current #1 in the world is Professor Charles Bassetti. You won't catch him fckin around with even the 60-min. chart. He is pure daily chart and actually rode the dow rally from 2003 all the way to Jan 2008 without a single intervening exit. He sent me an email once about Paul Tudor Jones's stops - it came up, I believe on crude oil. I was shocked that Paul would have his stop at 5% way. I asked Prof. why so far? Here's what his exact answer was .... "Paul places his stops where they are supremely hard to find" Yep, Stoney, there is no greater thrill in markets than to find an aborning trend and ride it to its end.
But you were laughing at Candlestick analysis I thought you didn't do any TA at all. So why not tell me what aspects of TA you do use. As far as Fundi vs TA, fundi would lose every single time, hands down. Remember Enron? That famous million/year bitch was rec. strong buy all the way down to near zero. Killed thousands and thousands of folk. A simple trendline on the weekly would have gotten even the most stubborn technicians out in time.
Noted. Another thing perhaps worth having a look at is weekly VIX which is starting to look pre-flash crash. Dow Transportation is not diverging from S&P this time. IMO technical traders, actually FA traders too, will be eye-balling price reaction to 100 weekly SMA. It's the only worthy average below, all other ones have been rejected up to now. As far as I am aware there are a lot of old school traders that solely watch reaction to averages on longer term charts, mainly weekly time frame. I would be extremely surprised if Stoney got his +111 Dow EOD.
Going to be one hell of a last hour I guess. Being serious, I hope you get your health and your head straight during the next couple of weeks. I enjoy reading your posts and look forward to your return.
So nice of you to post an Aug 4 entry on the 19th. http://www.elitetrader.com/vb/showthread.php?threadid=205231
Look at the sorry bulls trying to create buying this last hour. Programs activated, market ready for take off.