I say "teach someone to fish" .....
.... and they smell like fish for the rest of their life !! Yuk !
I thought you guys might be interested in a fun fact about that .62 retracement that Jeff keeps mentioning. It comes from a mathematical phenomenon know as the Fibonacci Sequence: 1,1,2,3,5,8,13,21,34,55 .... and so on.
Where each successive number is the sum of the 2 preceding it: 1+1=2, 1+2=3, 2+3=5, 3+5=8 ... and so on.
For some reason, Fibonacci numbers occur quite frequently in nature. Count the petals on a flower some time -- you will see. Keep that in mind the next time you play "He/she loves me, he/she loves me not", lolol
Anyway, when you divide 2 consecutive Fibonacci numbers, you get a number that approaches .62:
5/8=.625, 8/13=.615, 13/21=.619, 21/34=.617 ... see ?
For some strange reason, stock market retracements have a relationship with the Fibonacci Sequence too. I'm not making this up, lol !
siliconinvestor.com
Magic numbers, shooting stars, black candles, smoking pistols <g> ....
..... I guess it's safe to say that making money in the stock market is far from being an exact science, lol.
Chris
P.S. I sometimes use prayer when I buy stocks too ! :-)) |
