"Mandelbrot studied the clumping of 3 sigma and greater events and their implications in natural systems. He then found the same phenom in the markets. Lastly he was unable to ascertain direction but could forecast volatility." which is part of the reason why people can use TA effectively. TA is not about saying "i know what the market will do" it's about being able to enter longs and shorts that offer compelling risk/reward and that ability comes, in large part, from understanding the cyclical nature of volatility.
Mandelbrot loved today's volatility. Proves his point. My point was proven insofar as I made money which if you're a trader is the point. Gonna let this thread rest for awhile. Initially we had some good input re: AAPL and of course Whitser . Portfolio is up substantially and those who followed did well I believe and will continue to do so, I'll repost in Fall. Good luck everyone, and keep yer wits about ya.
Well..... Now it all makes sense... ETFC Ameritrade merger. ETFC tanks to 10 on subprime woes, then hedgies rake in shares at discount and sell into merger announcement. Nice going boys..... I just love this game.....
ETFC continues to remain in play. Options premium high as are the prospects for appreciation going forward. General market not going to new highs yet. A very reliable indicator went negative today and it leads. Not infallible but very good..... Good luck
Market waiting for central bank's action w/ regard to rate cut(s). Plan appears to be: Weaken the dollar, prop up commercial paper market and soften housing sell-off which strengthens the domestic economy, the stock market, and bolsters exports and trading with Europe.
Business wire: Restating 2007 earnings. CC @ 5:30 pm. Charge-offs. Focusing on core business. We'll see how the street treats this news....