RE:RE:Bashers are loosingDear ST, i for one genuinely appreciate your posts, for what it's worth. I actually learn little tiddly-winks here and there from them, in so far as i am capable, and i'm pretty sure you're a straight shooter, a rare gem on SH. Now, regarding todays trading activity, were you watching the Crappock Curve when it crossed the 17 day MA? I like to reference that to the Liberace retracement index. So far it's been 119.7% accurate. Thoughts ;) Fer shizzle though, i do learn from your posts. Danke.
StockyTalky wrote: It really just weeds out those who understand the charts from those who don't. I'm actually ok with that though as I make the most money off of human stupidity. You see while everyone's in a panic it's the perfect time to make moves especially when all indicators say something else. The market is welcome to do whatever it wants to do, move up, down, sideways...whatever. At the end of the day it really follows simple chart patterns that are acurate with a small margin of offset.
How did I know that the market wasn't going to sell off today? Why did I stick my neck out on the boards about it? ....Knowledge is power. It's important, if you're looking to be a strong trader to do your homework and keep studying the charts. I made a minor mistake and didn't account for the peak volume shift that puts a heavy toll on the degredation I spoke of in my earlier post. Degredation was noteable at .6 falling to .49 (-11 cents - this margin was higher than predicted as I didn't account for the peak of the pile fear factor). None the less the SP followed the exact study that the predictions were based on offset by a margin of 3 cents on the low side.
If you personally sold anywhere from 16.2-16.3 thinking the sky was falling I'd highly recommend picking up a chart pattern book. Indicators were not there in the least to say that a sell off was warranted by the market.
Ironically enough based on volume the share price is still a bit low from where it should be. For better words - the SP could be a bit higher. This makes sense considering the stigatic position it's holding right now. If a correction is around the corner it will most likely be based on fear of historic patterns. This is going to be a weed out moment as volume (as I see it right now) is sliding sideways and should (if numbers sustain) have a solid and quick rebound. The market changes all the time however but this is what I'm seeing in the charts as of now.
** You may have noticed in this message that I am a bit hesitant on sharing my strongest indicator techniques on this board. This is mainly due to the fact that I don't know if big money reads these boards or not. Last thing I need is dependable chart patterns to be obscure to weed out the little guys.