Simple, the trend is still up, until its not. You posted a chart saying the trend is not up, and that it is flat. So I posted a chart with a bigger time frame that disagrees with your assertion that the trend is flat.
I know that the trend appears to be weakening, and that is why everyone has divergences and they are madly bearish. Its too early to say, but its easier to stay with the trend IMHO.
Hey Bulls out there
Started by
isaac613
, Apr 30 2009 11:41 AM
42 replies to this topic
#42
Apollo
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- Traders-Talk User
- 146 posts
Member
Posted 30 April 2009 - 10:09 PM
Bears, hang in there. I think you will see some gains by the middle of May but there is a little more to go on the upside. High should be on or before next Wednesday.
I am currently 1/3 in BGU.
I just finished my best month ever. Up 59.6%. Every purchase turned my way almost immediatly. I guess everybody gets lucky once in a while.
Good Luck to all.
Apollo
I am currently 1/3 in BGU.
I just finished my best month ever. Up 59.6%. Every purchase turned my way almost immediatly. I guess everybody gets lucky once in a while.
Good Luck to all.
Apollo
#43
MoneyFriend
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- Traders-Talk User
- 917 posts
Member
Posted 30 April 2009 - 10:33 PM
Simple, the trend is still up, until its not. You posted a chart saying the trend is not up, and that it is flat. So I posted a chart with a bigger time frame that disagrees with your assertion that the trend is flat.
I know that the trend appears to be weakening, and that is why everyone has divergences and they are madly bearish. Its too early to say, but its easier to stay with the trend IMHO.
I'm saying that the trend for the last 3 weeks (40% of this entire New Bull™ move) is flat , and therefore the trend is probably coming to an end. I'm not trying to argue that the whole move from 3/6 is flat, that would be silly wouldn't it. It's easier to stay with the trend, until it's not. So it's important to realize when a trend may be waning.
Imagine stubbornly holding short from 3/6 because there is a "bigger time frame that disagrees". That's what going long up here appears like to me in my honest opinion.
And on a much longer time frame ,past trailing 12 months for instance, the trend is still down. I think I'll try to adhere closest to that bigger frame.
Now back tracking just a bit, the linear regression for the past %40 of this year's trading on the SPX/OEX or even the Russel 2k or 3k is still clearly down.
Edited by MoneyFriend, 30 April 2009 - 10:35 PM.
