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Non-Tech : The Woodshed
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To: Claude Cormier who wrote (54183)8/25/2016 12:30:03 PM
From: cessnastreet  Read Replies (1) of 60901
 
I am still thinking pullback to $1300, but the May June low of $1200 is certainly possible - glad people were able to cash in for the next run - it should be a very clear turning point.

I always have to remember the market is the collective sentiment of millions of uncoordinated individuals.

The chart is the visual sentiment of the crowd - and crowds are not rational actors - so the fundamentals are important - monetary policy, international relations, political decisions - but I put in a trend line and buy when it goes positive/bull and sell when it goes negative/bear - otherwise I end up trying to convince myself of what I would like to happen - not what is happening. JMHO. Good trading.
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