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Or you can now use TapaTalk again!JTH's Account Talk
- Thread starter JTH
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JTH
Well-known member
Sorry buddy, when you have as much data as I do, you don't always have time to sift through & analyze it.
Good deal, not many of us had 2 IFTs for that tactic, this is a good place to "wait and see" how it works out.
JTH
Well-known member
Copy, but what I meant was that the Tran was down over -1% while the other indexes were in the green, meaning that the indexes were not in agreement with each other.
JTH
Well-known member
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Today, the S&P 500 signaled a Low Pole Reversal, this is not a price reversal, just a notification that 50% of the O,2 column of was overtaken by the most recent column of Xs. At this point in time, this is effectively nothing more then a bear bounce, within an established downtrend showing 1 lower X and 2 lower Os.
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MrJohnRoss
Well-known member
Dang JTH, that's a gutsy call. I like the fact that you call it like it is. There's no wishy washy in your calls.
Today was one of those days where I felt like there was no warning sign that could have predicted this 288 point climb, other than an oversold bounce being overdue.
It'll be interesting to see what the next few days brings...
WorkFE
Well-known member
This close to the Holiday it's impossible to tell when profits will begin to be taken. I think if you're in you ride it to get back some of the past weeks losses. If you're out how much reward is left after today or was yesterday just a bounce. You make the call.
Cactus
Well-known member
Not so much a wet blanket as a warning/reminder not to let yesterday's euphoria make your IFT decisions for you.
JTH
Well-known member
Thanks, that's one of the best complements folks can get in a forum like this!
Another day like Wednesday can move the needle enough to trigger reversals in the S&P 500 & Wilshire 4500, but the Tran & NASDAQ 100 are a bit further behind. Reviewing all the Low Pole Reversals going back to October, not one triggered a price reversal. And I agree, there;s no way to predict a 288 point climb, and we can't get behind it fast enough within TSP to do anything about it
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burro I tend to agree with you on too much too fast,but I'm not skeeerd so I will hold my position like I have this past few years and rock and roll with the punches and love taps, it's worked for me
Birchtree
Well-known member
As you will attest, time in the market, not market timing, offers the greatest chance for investment success. One of the biggest mistakes investors make when it comes to trying to time market turns is in thinking that there will be a clear catalyst or sign ahead of time that tells them when the market is about to turn. The truth is that there almost never is. We are in a generational stocks bull market - all in all the time. 2015 may duplicate the gains of 2013.
MrJohnRoss
Well-known member
Sorry Chief, but I have to disagree with you. That mantra is for the masses, and is espoused by the likes of Suzy Orman and her ilk. Although TA does not guarantee 100% success on every move, I'd much rather rely on my own skill at TA than go through another bear market and pray for a recovery.
Of course, for the vast majority of American morons, who would rather spend their time watching the boob toob instead of studying the markets, a buy-n-pray strategy may be their only hope.
I plan to work hard at what I do, and fully expect for that hard work to pay a bounty of dividends in the long term.Similar threads
