for NAV
#1
Posted 25 January 2007 - 08:38 PM
It's the illiquidity, stupid !
#2
Posted 25 January 2007 - 08:51 PM
#3
Posted 25 January 2007 - 09:59 PM
It's the illiquidity, stupid !
#4
Posted 25 January 2007 - 10:10 PM
That's not the point. If he came to his conclusion based on some unique method, it is nice for me to learn about it, because it could be another tool in the arsenal. Until I know the method and backtest it, his comment is just another opinion without much merit to us.
NAV is a momentum trader. I am not going to pretend to understand his methods, but he's good at using it. Momemtum trading works often, and yesterday was high momentum day. Many expected the momentum to continue.
My thoughts on it is that momentum trading is highly applicable BETWEEN the time frame of tops and bottoms, when the trend is strongly in force. When the trend is up, you get a high momentum day, next day probably carries that momentum.
Probably doesn't work so hot near tops and bottoms.. but thats just my thoughts on it, seems to make sense to me. I tend to think tops and bottoms are violent affairs, with lots of reversals until one side gives up. So you may get quick bursts of momentum, but it may not last as long as during trending periods.
#5
Posted 26 January 2007 - 05:45 PM
yesterday you mentioned that you expect NDX to make new recovery high soon. Would you please explain what the forecast is based on? I am trying to understand the bullish picture to stay out of trouble.
Thanks a lot, Greenie
Greenie,
My reply in a post above.
Essentially, uptrend is intact. None of my daily pivots are broken. Expanded wave 2 correction. Complex bottoming on hourly. Never fade those complex bottoms. They will at a minimum produce violent bounces.