Must I Be The Voice of Reason In All This Giddiness?

Discussion in 'Trading' started by ess1096, Nov 21, 2008.

  1. Two remarks:

    1. because the Y2K contained fluff in fancy indices that was removed by the last bear market, and never came back. Extract that fluff (by doing an extraction analysis), and everything is prestine!

    2. Markets work on bottoms, and not on tops! There is no fluff in a bottom, but there is always fluff in a top (sh*t that rises with a high tide. Sorry about the S. word. I want to make it clear).
    #21     Nov 21, 2008
  2. If someone uses fibs or EW or oscillators or trend definitions or anything else TA-like that instills disciplined entries, exits and risk control, they are *miles* ahead of someone who assumes it's all hocus-pocus and flies by the seat of their random-walk pants.

    IMO, etc.
    #22     Nov 21, 2008
  3. If we can keep this thread between the ten of us I'll show you.

    This video is:

    1. Very crude.
    2. I miss a couple of things right in front of me
    3. A bit too long because it was unscripted and the first one I ever made.
    4. The best stuff is in the last half. So if you get bored keep that in mind.

    Use Windows media and enlarge the video. It should fill your screen just like an e-sig chart.
    #23     Nov 21, 2008
  4. ess1096


    #24     Nov 21, 2008
  5. ess1096


    #25     Nov 21, 2008
  6. stop using log charts. They are worthless and distort the picture.
    #26     Nov 21, 2008
  7. ess1096


    Fair question Bro. My first thought would be that the S&P 500 is widely used as THE gauge of US equities markets. My second thought is that the indexes will not be mirror images of one another but all will produce their own significant areas of support and resistance. And finally, T/A should be used as a guide, not a religion.

    That being said, let's look at the DOW. True it did not make a double top like the S&P did. However, you can't deny that the 2000 top on the DOW (high weekly close of 11722) was a very significant level in 2006 and again in 2008. It was an area of resistance in 2006 before it broke out and then it held as support twice in 2008. Then when it failed it returned for a classic test of support-turned-resistance in September. The rest is history.

    #27     Nov 21, 2008
  8. ess1096


    Dude, you cannot be serious!! :confused:
    #28     Nov 21, 2008
  9. ess1096


    For trading off the daily chart I agree 100%.
    #29     Nov 21, 2008
  10. stereo70


    That's good stuff, Pabst; thanks.
    #30     Nov 22, 2008