As I said if you have a little litteracy in prob there is a huge difference between saying that - which is saying a tautology - and saying that the TURNING POINT are PRECISELY at 9498/9515 as explained shortly here: "There is only one single law for interpretation: a minimum or a maximum on projection line on base line (interpreted as consolidation line in blue color) are important turning points for the market for that scale and under. By rule extension points around the crossing of the two lines are also important." I will help you a little: what is a probability ? It is the surface under the probability density curve. Imagine a surface that is as thin as two points, suppose a normal law or not and you can get the answer or at least an estimation.
Whoever said short-covering takes place at the bottom? I'm surprised you don't know this stuff, Harry.
My points are about the bottom. So why do you associate them whith short-covering then huh At least we seem to agree: at bottom it is not the majority that can make the market turn...
Because you're spouting conspiracy theories when there are nothing of the kind. As I said, it was just plain ol' short-covering. Relax and find some other horn to toot.
Now you can spare some calculation as the intrinsic standard deviation of 1 min period is 4 points (see http://www.elitetrader.com/vb/showthread.php?s=&threadid=23756&perpage=6&pagenumber=1) <IMG SRC=http://www.elitetrader.com/vb/attachment.php?s=&postid=212051>
Oh yeah ? there is no right to talk about the PPT . Then there are two other guys who did so on Friday of they are bastard conspirators then according to you. And CBS shouldn't even write an article about that, you should write to them to complain about that, why don't you And calmos Alabamos also - as would say a friend of mine - since I said that I agree with short covering, why do you seem so nervous . P.S.: you know what, the more you get on nerve about that, the more you should listen about that, that's the only way to get rid of your fear and/or nervosity. So I will continue on PPT. Isn't that an interesting subject no - at least for fun ?
technically, what's curious to me is that almost every market open this past week started with a gap.. usually there's a mix of intrarange opens and maybe 1-2 gap opens per week, this past week has had almost all minor gap opens.. http://bigcharts.marketwatch.com/qu...symb=nasdaq&sid=0&o_symb=nasdaq&freq=7&time=3 there's not really any explanation, just, it's a curious technical event.. ken
BTW do you agree or are you too afraid to have to agree with me ? If you don't answer it may be yes .