10 replies to this topic

[greenie]

You will get your fame, xD

[OEXCHAOS]

Agreed. Nicely done! Mark

[dcengr]

As much as XD's post was timely, COME ON NOW IT WAS ONLY ONE DAY. Geeze. When his market crash prediction comes true, then I think all of us bowing to his call is in order, but one down day?

[greenie]

As much as XD's post was timely, COME ON NOW IT WAS ONLY ONE DAY.

Geeze.

When his market crash prediction comes true, then I think all of us bowing to his call is in order, but one down day?

but just look at the size of the candle on UTIL (compare it with NDX ).

[dcengr]

As much as XD's post was timely, COME ON NOW IT WAS ONLY ONE DAY.

Geeze.

When his market crash prediction comes true, then I think all of us bowing to his call is in order, but one down day?

but just look at the size of the candle on UTIL (compare it with NDX ).

I realize it was timely, but again, XD is predicting a full on slide with Utils. And he may be right. But one day does not a prophet make.

[fib_1618]

I realize it was timely, but again, XD is predicting a full on slide with Utils. And he may be right. But one day does not a prophet make.

No, it doesn't.

However, Richard did recognized the pattern, provided an example of the pattern, showed a representation of the preferred outcome, and the Utility price pattern mimicked this call fully and completely (and probably should be added to Edwards and Magee )

As far as how important the call might be in relation to the larger idea shared, yes, that remains to be seen.

Fib

[dcengr]

I realize it was timely, but again, XD is predicting a full on slide with Utils. And he may be right. But one day does not a prophet make.

No, it doesn't.

However, Richard did recognized the pattern, provided an example of the pattern, showed a representation of the preferred outcome, and the Utility price pattern mimicked this call fully and completely (and probably should be added to Edwards and Magee )

As far as how important the call might be in relation to the larger idea shared, yes, that remains to be seen.

Fib

I don't mean to poo poo his call, but it IS a triple top pattern... any 3rd rate technician can see a triple top.

Again, it was a rather timely call, and he has a much bigger projection for it, so lets see how it unfolds. A triple top only has a target from the neck to the head, and that was filled today. It also appears to have hit a trendline on the decline. If it doesn't bounce back up from here, and slides further, he would have made an excellent call.

And frankly, I think there is some significance to the size of that candle as Greenie pointed out. It probably won't stop with today.

Btw, I congratulated XD on his OIH call.. after it had a 10% break down And he put his trade up too. Now that deserved a pat on the back.

If the market crashes like he's predicting, I think many will be awed by that call. But that hasn't happened yet.

Edited by dcengr, 05 January 2007 - 04:45 PM.

[greenie]

No, it doesn't.

However, Richard did recognized the pattern...

Who is Richard????


I agree with dcengr that xD made three calls together: (i) UTIL on the verge of breakdown, (ii) UTIL slide will run for few days, (iii) if UTIL is leading, the rest of the market will follow it down.

(i) is done. (ii) and (iii) remains to be seen.

Fib, would you please comment on A/D divergence here? Based on your analysis, do you expect utilities to go up now and make a divergent top ? What would be somebody's stop, if he follows the above model?

dcengr, if it was an obvious triple top with falling momentum, why was there so much disagreement yesterday about his expectation? I am confused (as always ).

[dcengr]

dcengr, if it was an obvious triple top with falling momentum, why was there so much disagreement yesterday about his expectation? I am confused (as always ).

Triple tops don't always resolve down. Probably better than even odds that it does, however. One way to know is if there's A-D divergence, though its not a requirement. I basically said I didn't see any from that, but I also said patterns work.

I wasn't disagreeing with him that it couldn't drop. Just that there was no A-D divergence. So you'll have to ask the others who were posting what reasons (if any) they thought it couldn't drop.

As for further direction of Utils, I haven't looked at it enough to make any IT calls, but VST I agree with you that candle is ugly and probably means the slide is not over for a few days at least.

[A-ha]

Thanks guys. The more common the pattern is, the lower the success rate... Like all other rare formations, this one has a very high success probability and I often find the usual resolution quite powerful but again, I am not sure what it will mean for the broad market going forward.

Edited by xD&Cox, 05 January 2007 - 05:12 PM.