Carolina fans had a "large time" this weekend. There's nothing finer in Carolina as when Clemson goes down to defeat at the hands of the Cocks. How bout them Cocks!
Please note, as a token of cyber friendship and an attempt at some liberal compassion, I haven't mentioned the boys from the Bronx. Not even once! No gloating what-so-ever! I don't think I like this compassion stuff.
OK Sliderooo! Let me tackle your second post to me regarding TA.
>> ...... you & other TA afficiando's were unable to call either the June Swoon of OSX 125's literal free-fall to OSX 58... nor; the bounce here from 58 to 86. <<
Wrong Bollinger Band breath! The TA did not, let me repeat, "DID NOT" miss the turn. And, if you knew how to read the sticks, you would have been able to pick it out yourself. Let's take a look!
stockcharts.com[h,a]daclynmy[d20010901,20011101][pb20!b50!b200!f][iut!Ub14!Lh14,3!Ld20]
Where you see 58.18, right at the bottom of the trend, is a bullish reversal pattern straight out of the book. I had explained back on the RIG board that anytime you see a reversal pattern, it's usually best to wait for confirmation that the trend is reversing. We got that sign the very next morning when the OSX gapped up at the open and closed higher on the day. Budda-bing, budda-boom, straight out of the book.
To further enhance the reversal pattern, it's usually a good idea to use filters to help confirm the trend. We had that too!
The Stochastic flashed a buy signal the day following the trend reversal pattern and was confirmed with the Relative Strength Indicator.
Also note the CCI Indicator. It measures momentum and the momentum indicator crossed up over the -100 line on the day the reversal pattern appeared. Another sign that money was flowing into the sector.
Now you know I didn't have a position in RIG or in the OSX at that time so I wasn't focusing on it. If you'll recall, I mentioned earlier on the RIG board that I was there to share some pointers to help others in timing their purchases. I didn't bring the analysis to the attention of the RIG thread because I was investing elsewhere.
But the chart clearly shows the turn was recognizable for those who knew what they were looking at. You obviously don't know or you wouldn't have made the comments you did.
There was a time when I thought you were a smart SOB. That was a time when I didn't know squat. The more I learned, the more I realized how narrow your focus is.
I'm not the brightest person on this thread, but I know enough that one needs to keep an open mind and be flexible if one wants to maximize returns in the market. You have the potential but you still lack the emotional maturity. Does the term, "be water my friend," mean anything to you? You can't be water when your mind is closed.
TA doesn't work 100% of the time, but it sure works a hell of a lot of times for those who take the time to learn it.
So my friend, it looks like you were wrong in your assumptions about TA missing the turn.
Wrong, ...... such a nasty word, isn't it? <VBG!>
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