Where did all the Fib threads come from?

Discussion in 'Technical Analysis' started by bsparkyman, Aug 27, 2007.

  1. Suddenly alot of threads and analysis on et espousing fibs for stocks and futs and posters using in hindsight and realtime analysis and calls.

    Three months ago if you posted a "do fibs work?" thread they cut off your head and shit down your throat.

    Where did all the converts come from and where are all the witch hunters?
  2. no. 22

    no. 22

    Could be something to do with we are at a fib retracement on an index? Also, full eclipse of the moon tomorrow.
  3. Cycles are very prevelent right now. 12666, 13666, active solar weather, increasing sunspots cycle. Make your hay while the sun is shining!
  4. I saw several good studies on Fib levels. Bottom line is, fib retracements fare no better than any other. There is nothing magical about 61.8 or 38.2 or 50% etc. etc.

    But the beliefs die hard. Mention facts, and a hundred people will pop up with torches...

    "Works for me" seems to be more important than evidence. Go figure.