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Strategies & Market Trends : Fibonacci Dynamics -- Ignore unavailable to you. Want to Upgrade?

To: bruwin who wrote (90)	3/4/2007 2:31:59 PM
From: sammy™ -_-	Read Replies (1) \| Respond to of 330

bruwin the experience I had of owning Enron shares and it's financial reporting and disclosure problems has made me wary of the books. Keeping track with the company's daily news, forward looking statements is sufficient... that's enuff for 4 me on fundamental side... Here's my Radar Screen: - Track the general health of the Market, which is forward looking, if it's healthy even pigs can fly - Track the general health of the €conomy, which follows the Market, this will be a grinder with volatility coming back - Keep tabs on the current news & forward looking statements on a particular stock - Researching & comparing patterns of past history of the Markets. History Repeats in some way. The patterns today are a combination of all patterns since the beginning of the 20th Century, that's why it's very difficult to pinpoint exactly where we are - Filtering out noise & have patience Fibonacci Golden Ratios of 38.2% - 61.8% are excellent trading areas with additions of Pattern History, Elliott Wave counting & VOLUME, it becomes a potent system that will bury the fundamentals in the Mojave Desert - Short-term traders [Scalpers] look @ Daily charts - Position Traders look @ Weekly charts - Long Traders look @ Monthly charts Never ignore the Market's natural trait - it's schizophrenic. Market volatility is healthy for the markets and weeds out non-performers. The Market right now need some cleansing again, it will be a big sideways action for awhile, volatility will rumble, even when the earthquake is over, we will also see some aftershocks. Volatility has been quite high this past week... Over confidence, creates this... Warren Buffett says; Master the art of contrapuntal investing... Sir John Templeton says; to buy when there's "blood on the streets" this is what you call "contrarian investing"... Ask Warren Buffett how he got so fabulously rich, and he’ll tell you - 'Quote'-- it was by picking up the garbage that other people didn’t want and then by keeping it until they wanted it back. When the herd is rushing in one direction or another, as it generally seems to do, it’s all too easy to forget that there are bargains being trampled into the pavement. All you need, it seems, is the intelligence to spot the inefficiencies in the market Best Regards §€