And, please, don't say we are just riding it down.
I'll speak for myself, I'm way to f*cking cynical to believe I actually know what I'm doing. I'd like to think I'm a genius, but it's more beginners luck than anything else in my eyes. I've given myself better odds than the average guy by studying history and understanding our financial system, but what's that worth anyways? You've been in this game for a while longer, I'm sure your opinion is different, and rightly so. I'm not trying to discredit TA one bit (espcially yours). I look at the charts and use them. I think Shack's post is the way I feel about it, you have to understand we're in a bear market which means support levels fall easily and are hard to take out going up. The reverse is true in a bull, which is why I believe a lot of the TA types have had their asses handed to them the past year (not CFZ, but the vast majority who are looking to buy the bottoms), they never understood the rules had changed and we entered a bear. So in a sense there's a bit of psychology in how you use TA information. As to 1929, they didn't use TA? Seems odd, because it's so ingrained in us hearing so and so stock has support at XX, then at XX if that breaks, etc. But I can see how it would be a pain in the ass without a computer. |
