Sliderpoo! What did you say to get a message banned? I wish I had seen that one. <LOL>
I don't doubt that the market will pull back because the economy is still in poor shape. I don't doubt that bankruptcies will continue to rise, layoffs will continue, earnings won't be there for most companies, employment freezes will put into place, inventory builds will put a drag on profit margins or any other negative you want to throw into the mix.
The fact of the matter is, that it doesn't matter!
My style of investing doesn't call for me to draw a conclusion on where the economy or market is headed. That's where we are different. You want to use a top down analysis approach, where you picture the economy to be six months out and position yourself for such a move.
I don't like this approach. It's hard enough to predict tomorrow, much less six months from now. Your approach calls for you to form an opinion, and when we form an opinion, we lock ourselves into that scenario and automatically go into a state of denial when the call goes against us. It's human nature! That's why you and others average down. That's why I've averaged down in the past.
I'm not saying you can't enjoy some success with this method, but it sure as hell isn't a consistent way of generating profits.
None of us on this thread are smart enough to consistently stay ahead of the market when it comes to predicting its movement. That's why we're here. We're looking for ideas, analysis, thoughts and trading successes of others in order to help our own portfolio grow.
I have found a method to help increase my odds of success. A method which you and la Pooch have continuously knocked and tried to discredit. You two have personally done your best to see that others haven't shared in some of the success I've enjoyed this year. To deprive others of the opportunity to improve themselves qualifies the both of you for scum bag of the year awards, in my opinion.
In the recent bear market, I have found that it is best to "REACT" to what the market is doing. To be a good follower. It's your reaction time that makes or breaks a trade when in a bear market. Your entry point is vital if you wish to maximize results. Your entry point may not be as critical in a bull market, but it is in a bear market.
Candlestick charting has been an incredible tool for me when it comes to timing my buys. It allowed me to call the best seven week move in 20 years regarding the NASDAQ. It allowed me to call the bottom for the OSX within 3 points. It allowed me to call the up move with the retail sector. Every one of the calls I made recently went up immediately, that very day, and stayed up. Candlestick charting allowed me to forecast with ACCURACY and TIMING, and it don't get no better than that.
I don't care if you don't believe it works, I don't even care if others don't wish to use it. As a contributing member of this thread and others, I had a responsibility to share something with others that was very helpful to me. A system that proves itself effective immediately, not 6-8 years later after calibrating, fibrillating and masturbating. It's a system that even when you're wrong, it's still effective. If the stock doesn't move in your direction in 2-3 days, you close the position and regroup.
Now if you have a system that is effective enough to perform with accuracy AND timing, or close itself out in 2-3 days, then please feel free to share it with me. I'm all ears!
Meanwhile, as I've said before, there's a new sheriff in town and he's carrying a big stick. A candlestick!
King of the original SD thread,
Sheriff bum |
