Let's quit our sparring and move on. We can no doubt learn from one another. In fact, we can all gain a great deal from one another, without declaring who's wrong and who's right. If you look back over some of Claud's charts, you might learn some new techniques for analyzing the market, even if you disagree with his conclusions.
Analysts constantly differ with one another over the direction of the market, and there's much to be learned from those with different points of view. Sometimes another perspective is helpful, however convinced you are of your own point of view. Claud has a great deal more knowledge of the market and trading experience than you and I combined, and I think he deserves our respect (particularly since he's so generous with his knowledge on this thread). If you're convinced that he has nothing useful to offer, then move on to another thread.
Let's try to put our differences behind us and work together.
As for IBM, I admit that I have no idea where it's headed. One thing to consider is that it broke resistance today (at 136.18). I've been getting quite a few buy signals with it since the 12th. Parabolic SAR is positive, and a longer-term MACD (13,34,89) is just crossing up through the signal line. But StochRSI is high, and IBM made quite a move today, so it might just fall back. Maybe it'll bounce off resistance at 138.125. That's the next level it has to break through to continue higher. It tried to move through that resistance level today, but fell back. If it does continue up, try to minimize your losses. Use stops to protect your capital. If IBM falls, congratulations to you on a good pick. If it doesn't, it might be best to close the position and not wait for January. But who knows? We can at least agree that the market isn't easy to predict.
Brooke |
