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Strategies & Market Trends : CFZ E-Wiggle Workspace
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To: skinowski who wrote (9330)11/17/2008 11:42:06 AM
From: Perspective1 Recommendation  Read Replies (2) of 41419
 
That 1930-32 bear should have been surprisingly easy to trade, assuming one could throw off the fundamental noise and ignore the urge to buy because "it's so low". I mean, it came down in a repetitive series of forming a corrective flag for 4-8 weeks, breaking to fresh lows, falling for a few weeks, then forming another base. It basically followed very clear trendlines, and never even made more complicated retracements. All you had to do was short every failure, and cover after a few weeks. Then reshort the next short-covering rally. It was so easy to trade, my three-year-old could have done it. The one about-face that you needed to get right was respecting the huge TL breach off the final lows. None of the earlier bounces violated the falling TL.

The trickiest part would have been ignoring the noise, and ignoring the voice inside that kept screaming at you how much more of a deal stocks are today than they were two months ago.

Now class, let's write on the chalkboard 1,000 times:

Read the charts. Read the charts. Read the charts.
Read the charts. Read the charts. Read the charts.
Read the charts. Read the charts. Read the charts.
Read the charts. Read the charts. Read the charts.
Read the charts. Read the charts. Read the charts.

`BC
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