SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Point and Figure Charting
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: John Post who wrote (7677)9/23/1998 9:08:00 PM
From: Jay Scott  Read Replies (2) of 34811
 
John, not to deny that the market has all the makings of a powerful rally underway. I may be looking at the situation over a shorter term than others.

The P&F charts and the bullish percent indexes all point to an incredible opportunity to be long in this market. What I have been seeing and doing since Dow 7400, however, is taking advantage of the short term cycles for trading index options. We have had the good fortune of a relatively well behaved market since the correction earlier in the month.

What I'm seeing in the P&F index charts appears to parallel what Donald is seeing in his technical analysis. I'm simply trading a profitable opportunity here, since the Dow broke out to the upside on its chart today, to play the next part of the downswing back under 7900.

It's almost entertaining to watch the market cycle on these charts while listening to the talking heads try to explain from one moment to the next "why the market moved up/down today." Who cares why? The major trend right now is up, and it will be until we see otherwise, but a reversal back down on the charts is certain to elicit numerous explanations of "why" the market is falling apart again.

Since I've been using DWA's research, it's been refreshing to be able to turn off the noise and the emotion and just trade with the odds stacked in my favor.

This is definitely a market for investors to be long. In the meantime, there's a lot of money to be made trading the cycles.

JS
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News