Discussion in 'Technical Analysis' started by nkhoi, Dec 2, 2008.
It's pretty simple really
Great find.. This is the main reason why TA analysts were the first ones to go on Wall Street. Their calls are even more ambigious than fundamental analysts which is a hard feat.
Breaking down his "analysis".. he says we are in line for a 25-40% rally!! But it may go to 33-37 first. What he fails to mention is that a decline to those levels is about a 30% DECLINE
So after it hits these levels.. a monster 40% rally would be UNDER present levels.
Not to mention, Since the cost of producing oil is widely reported to be around 50 bucks, its not out of the realm of possibilities that oil can fluctuate around these levels +- 15 bucks.
So basically he is saying nothing special.. In fact nothing at all. But if oil happens to go up.. or go down, he can say he "called" it. Just gives TA a bad name which is too bad.
talks like an astrologist... LOL.
Wish it were that simple;
''charts predict 40% DOW rally''
Of course if CNBC makes enough[huge numbers] of bottom /countertrend calls,''predictions LOL'';
one of these months,
one of these years they will get ''one '' right
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