When Technical Analysis Works
When done right and done well, technical analysis is an amazing tool. While I was not trading this week, I have to say my annotated chart below called every move exactly right (check all the lines please) and mastery of the art only seems impossible. In a volatile week, see how it's done chumps (click for larger view):
Have a good night.
4 comments:
This is the Rhino, and I approve this message.
AWESOME Rhino! Thanks for the read.
That is an impressive chart, GYC. And it works, so it's effective as well.
Not like the computer models these global warming fraudsters use. This is one of my pet peeves. I've studied and taught meteorology, and the one thing I know is that you can't predict the weather.
Well, I can. The weather is going to change. There, I have predicted the weather with 100% accuracy.
It's funny, but you know when I was teaching 8th grade earth science I had this six week block of classes devoted solely to the weather. We studied ocean and wind currents, storm patterns, cloud formations, everything, all leading up to the final lecture on thunderstorms.
I had the students watch the weather reports on the nightly news, just to see how accurate they were the next day. So on the day of the final lecture, I had all these charts and pictures to illustrate how a thunderstorm forms. Cold air blows in driving warm air up. The warm air is heavy with water so a big dark cloud, called a cumulonimbus, forms. When the cloud gets too big, too heavy with water, it all comes crashing down with lightning and thunder.
I got home that Friday and went out to get the mail. There was a cold breeze blowing, and I looked up. Sure enough a big dark cloud was forming. I thought, wow, this is exactly like the lecture I gave today. I wonder if any of my students are paying attention? Next thing you know, crash, bang, boom, a thunderstorm that lasted about thirty minutes.
I walked into class Monday, and the students were staring at me, wide eyed. See, the brunt of the thunderstorm had fallen over the neighborhood where they all lived. And they were absolutely convinced I could predict the future. The weatherman didn't say anything about a thunderstorm on the Thursday night broadcast, but I did on Friday afternoon. "Mr. C can tell the weather better than the weatherman!" It was all over school. I became as a god unto these children. A happy coincidence to be sure, but I'll take the legend.
Now, these global warmist frauds, they have a computer model. Okay, we have records of all the weather patterns throughout the 20th century. Let's input the information from 1900 and see if the computer model can predict the weather patterns in 1950. Nope, not even close. The model cannot even predict the weather in the past! Then these frauds, these junk scientists, turn around and enter the information from 2000 and act like they can predict the weather patterns in 2050. Oh my God, global warming! We're all going to die! Please. These men are fools.
And they are definitely not scientists. They assume the conclusion before asserting the premise. They ignore the fact that all available information and experimental evidence contradicts their conclusion, yet they continue to blather on about their dire predictions. Can we all say rank hypocrisy?
It's the same with markets. The business reporter is no better than the weatherman. The markets are going to fluctuate, just like the weather. No one knows what is really going to happen, but an educated guess will help you weather the storm.
I'd say that your model, GYC, is a better approximation than anything you'll see on the news.
I believe fundamental research is the best way to evaluate a stock.
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