Well, I was surprised of that prediction too; I got it from
somebody on this site who subscribed to Corey Rosenbloom. I would
ask for a similar thing from Steve and Matt, when they do an
intraday update. Although with all fairness, this could have been
predicted: a support band would usually mean the bottom of that
band, as far as stopping a decline. I remember seeing the same
thing in fall 2008 on HUI as the final target of the drop: the
support band there turned out to be the bottom of that band,
150.
This market is very tricky, so giving multiple targets and a way
to check which one would be next depending on how the market
behaved on the preceding one, is a must, IMO.
Also, perhaps Matt and Steve could provide an additional service
of providing their intraday indicators from TS, such as $tick,$add,
slopes for those who check the site intraday or for those who have
a special subscription for extra $5-10 a month. This is similar to
Matt's idea of providing real time intraday data for an small extra
fee. I personally don't like trading blind, and I cannot afford to
watch the screen all day: I have a day job. I am reconsidering
going against the market to play the market without having enough
intraday information to make informed decisions. I closed a half of
my shorts too early this morning :(
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yeah, ouch!
$SPX...
Posted by junkie on 22nd of Jan 2010 at 05:49 pm
Well, I was surprised of that prediction too; I got it from somebody on this site who subscribed to Corey Rosenbloom. I would ask for a similar thing from Steve and Matt, when they do an intraday update. Although with all fairness, this could have been predicted: a support band would usually mean the bottom of that band, as far as stopping a decline. I remember seeing the same thing in fall 2008 on HUI as the final target of the drop: the support band there turned out to be the bottom of that band, 150.
This market is very tricky, so giving multiple targets and a way to check which one would be next depending on how the market behaved on the preceding one, is a must, IMO.
Also, perhaps Matt and Steve could provide an additional service of providing their intraday indicators from TS, such as $tick,$add, slopes for those who check the site intraday or for those who have a special subscription for extra $5-10 a month. This is similar to Matt's idea of providing real time intraday data for an small extra fee. I personally don't like trading blind, and I cannot afford to watch the screen all day: I have a day job. I am reconsidering going against the market to play the market without having enough intraday information to make informed decisions. I closed a half of my shorts too early this morning :(