Jill, I couldn't help but have a sense of de ja vu at your question. A buddy of mine asked a very similiar thing recently, and I'd liked to give you my short answer. Where should one place stops.
First off, let's assume MM's read the same charts as you and I. Second, let's assume that 60% of the time we are wrong in our assumption. What doi we do? Do we create a fromula that reads M=.60 + y? Believe me, I've set up many a calculator to quiet my fears. If Fibonacci equals 60%, etc.. Funny how we can still follow Nison, even though his book is a best seller in the Candle stick market. Do you Honestluy think that we are the only ones that can read candlesticks? Of course not. So what does this mean.
IMO, we are at a place where the media and the market in kind think that they can predict us. Well, what if we all decided to sell tomorrrow. We crash. We all buy, we rally. There IS strength in numbers. How unfortunate that we are all so "independent". I dont think that is how we were made. When we were at our peak, we all believed in eachother. We crashed when our Commander In Chief failed. We have yet to recoup.
When we have a Leader again. When we have someone that takes charge. Then, and only then (IMO) do we rally. When confidence is regained, we rally.
P.S. Dorry to bore you with muy ramblings. I believe that 1 out of 100 of a crazy man's ramblings are true. Im looking for that one truth. |
