I see the gang's slowly drifting in. Emerson said to "hitch your wagon to a star," and our star's wagon has arrived, with the usual crew of irate defenders bumping along in back. The list pit bulls will be here before long, no doubt, taking up the rear. The list members have the luxury of dropping in and out at will here, without anyone manning the unsubscribe button, drawing up membership rules, or passing around confidentiality agreements.
"Pivots or changes in trend are another name for top and bottoms, if one thinks about it."
That certainly gets one thinking, doesn't it? Just as PTATR did. At least the drivel on pivot points is benignly meaningless, unlike PTATR.
So many, it seems, may have hitched their wagons to the wrong star at the height of the bull market -- to a shooting star, in fact. But candlesticks, like shorting and so many other topics, were frowned upon, so it's a poor metaphor. It'll only displease. A black hole, shall we say, then? Their wagons may have been hitched to a black hole. At the crest of the Big Kahuna, their star was fulminating against posts that discussed shorting, and proposing to go long with the most volatile stocks in the market, the vaunted PTATR candidates.
Despite those instructive Excel sheets showing the top gainers among the PTATR candidates each evening, going long based on relatively high float turnover, high ATR and high trade rate could have been a ticket to ruin at the time. I wonder whether any found that out the hard way, when they settled in for the wagon's bumpy ride at the time of the crash. With any luck, they were saved by good exit strategies and tight stops.
Would anyone object to my posting the scan? |
