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Strategies & Market Trends : Paint The Table
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To: Jorj X Mckie who wrote (18592)3/10/2002 12:37:14 AM
From: exp  Read Replies (1) of 23786
 
Jorj, IMO it is unknowable now whether it's an inverted H&S or a triangle as you say. It simply depends on the market perception/prediction of fundamental future economic data (and, of course, exogenous events) which no one can forecast with sufficient accuracy. So, the best anyone can do is to follow the trend (assuming there is one) while watching the T/A indicators for warning signs. If COMP runs to, say, 2100-2150, tops out there and reverses down hard, which scenario will be proved right? IMO, neither one. Yet, the longs will gain another 200 pts or so just following the trend. It might be better to short when trend reversal is evident whether this happens next week or next month at COMP 1950 or at COMP 2150.
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