I think that you have understood the core of what I wrote. But there are some nuances and also some additions I want to add: 1. One does not initiate a long or short position based on the above alone. You need the execution tools, which will time/calculate a minimum or maximum in price when that minimum happens. In other words, the analysis of losers tells you where the reside, and the other tools are useful to nail tops and bottoms at small time scales. 2. Levels of losers are not always a horizontal lines in price-time charts. Those levels are curves ( and may contain jumps). 3. Next time watch where they sometimes open a market with a gap. Those gaps are well done by professionals, and I think they understand what I wrote above.
If you think you do not need to read blogs, I can invite you to some live trading events where the blogger will make you put you rpants down, or cut your nuts (which ever you prefer) so that you will listen in the future.
You did not understand, and he did not understand. Just like drunks do-- lean on each other. Remember that the reason why prices move is because some people are wrong. Ponder what makes people wrong, and therefore the market right.
So if we break support we fall to new lows? If we don't break support we don't fall to new lows? Did I get that right? LOL
What you don't comprehend is that the markets are headed to new lows. You probably agree with the other talking heads that 8000 is a nice level to be buying at, but what I'm telling you is that this time these levels are NOT going to hold. Keep thinking the next bull market is weeks away. Haha.
Can you please post a screenshot detailing your positions to take advantage of this huge downward move you're predicting? Thanks. You know what the difference between you and stock_trad3r is? He already blew up.
I agree S2. Naturally I could be 100% wrong (in which case I cover and flip hee hee hee) But....... No one is buying cars or houses - even cut way way back on the essential "staples" for that matter - holiday season forecast to be worst ever - even Starbucks reported its profit dropped 97 percent during its fiscal fourth quarter........97%?? WTF! - -and the list goes on and on! WTH makes folks think there is all this "sideline cash" waiting to buy stocks - when average folks are cutting back on everything else so they can pay their electric bill AND buy groceries? Wheres the big market movers - BSC, LEH, etc? In my *oh so* humble opinion, if folks ain't buying nuthin' else - where'd they get money to buy stocks - so why think we're near a bottom?!?! Trade this market and don't worry about bottoms, break downs etc - trade it or stay out is my opinion. Steve