you have it backwards, technicals rule, news gets in the way.
Forget the fundamentals, trade the charts.
The number one problem here isn't technicals or news, it's
everyone's emotion getting in the way. To me there are too
many posts here that are all emotional and also constant EW bashing
that just takes up blog space and buries useful posts like trade
ideas, instead of something useful like; here's a great trade idea
and stock pattern, chart etc.
Posted by vnathwani on 25th of Apr 2010 at 01:49 pm
spot on matt.....to a certain degree. too much emotion, too much
focus on news and in the end, its the charts that really matter. in
terms of ew bashing, i disagree. many ew posts talk about prechters
latest count etc. well if his analysis.theory works, i say prove
it. otherwise, ew bashing as you all it is actually value add as it
puts us traders off following "bad" analysis
you can see its true about news being secondary. For the
past year, news that previously would have dropped the DOW a
hundred points has had no impact whatsoever because the liquidity
is just overwhelming everything else. There has been plenty of
news. It just hasn't mattered.
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you have it backwards, technicals
Sell Off Coming?
Posted by matt on 25th of Apr 2010 at 06:30 am
you have it backwards, technicals rule, news gets in the way. Forget the fundamentals, trade the charts.
The number one problem here isn't technicals or news, it's everyone's emotion getting in the way. To me there are too many posts here that are all emotional and also constant EW bashing that just takes up blog space and buries useful posts like trade ideas, instead of something useful like; here's a great trade idea and stock pattern, chart etc.
spot on matt.....to a certain
Posted by vnathwani on 25th of Apr 2010 at 01:49 pm
spot on matt.....to a certain degree. too much emotion, too much focus on news and in the end, its the charts that really matter. in terms of ew bashing, i disagree. many ew posts talk about prechters latest count etc. well if his analysis.theory works, i say prove it. otherwise, ew bashing as you all it is actually value add as it puts us traders off following "bad" analysis
you can see its true
Posted by Michael on 25th of Apr 2010 at 09:24 am
you can see its true about news being secondary. For the past year, news that previously would have dropped the DOW a hundred points has had no impact whatsoever because the liquidity is just overwhelming everything else. There has been plenty of news. It just hasn't mattered.