Its a bit general, but still good+ funny. When some one mentions..... the advance decline line, it usually means they did not do their homework. LOL Paraphrase of William O Neil, founder of IBD , not a prediction.
"If your goal is to trade like a professional and be a consistent winner, then you must start from the premise that solutions are in your mind and not in the market. Consistency is a state of mind." - Mark Douglas
“The elements of good trading are: 1, cutting losses. 2, cutting losses. And 3, cutting losses. If you can follow these three rules, you may have a chance.” - Ed Seykota
Jack Schwager: How were you able to make consistent gains trading options? John Bender:To make money in options, you don't need to know what the price of a stock is going to be; all you need to know is the probability distribution. If the Almighty came to me and said,"I won't tell you where IBM is going to be 1 month from now, but you've been a pretty good boy, so I will give you the probability distribution", I could do the math.... Interview with John Bender of Amber Fund /Soros Fund Management & Quantum Fund from the book "Market Wizards" by Jack Schwager.