What you have pointed out is fairly obvious to us all...reading a book on biology does not make one a doctor as reading a book on chart patterns does not make one a trader. However, any doctor looking at me better have read many books on biology and medicine otherwise I would not trust them. Just as I would not trust a doctor who is not very well read, I would not trust a trader who is not very well read and who has not studied many of the various theories behind trading. You are right, there is no substitute for experience..., however, experience can be a hinderance as well. Someone with the wrong experiences and bad habits can work against him.
Nothin, Im looking at the naz index and some etfs now. Let me preface that I'm a noob and a piker. A deadly combination I bid 101 lots to keep it real. But I wont be looking to fade any gaps in the naz tomorrow.
this jumpshot is a troll and who knows what dozens of nicks he's used before to pollute the boards. Im putting him on ignore, not even good for amusement .
Good! Now we can have a serious discussion of fading INTC without these constant interuptions. We may not have gotten in on the pump, but lets see if we can get in on the dump. Spy is hitting the top of its channel. Anyone got a good chart on the $SOX index?
I would be careful shorting INTC. Margins are higher and are expected to increase. Great news from INTC; a blowout quarter. The only reason I see to short is if you don't believe their optimistic forecast. I personally am not willing to bet against Intel. Short at your own risk.
The formula is to wait until tommorrow to find the pivot. You have a large gap on the charts that will probably fill. Thats been my experience when a stock gaps up this large. I'll be looking to fade the gap tommorrow...
Possible, but if the market decides that GS and INTC earnings are a catalyst for markets to charge higher, you could get burned. I would personally find a less risky short out there.