Here I am not talking about swing tops or corrective ones... I am talking genuine potentially multi-year tops...all over the places.
this brought the feeling of extreme urgency to cover some of the semis that I made more than %30 since september and to short some of those newly brewed ones....
I see increasing number stocks with completed massive top formations
Started by
A-ha
, Jan 27 2007 11:24 AM
5 replies to this topic
#2
Tor
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Posted 27 January 2007 - 11:29 AM
Xd I saw your post on GS and just looking at it on the weeklies, looks like next week is going to be interesting to see if we get confirmation of the correction/trend change down.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#3
A-ha
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Posted 27 January 2007 - 11:40 AM
I have to tell you my GS call was based on trend line studies combined with economic fundamentals.
Prior to that, GS didnt show or form any sort of top ... So my call was more like a top picking. But as soon as it touched my target (220) area where the trend lines I suspected intersects, it reversed sharply...
In fact it formed a "tower reversal" pattern on weekly charts... that is one of the most powerful reversal signals I know of.
#4
selecto
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Posted 27 January 2007 - 02:21 PM
xD, What's a "tower reversal?" Does it have a more common name? I can't find the term in my stuff or on the web.
#5
A-ha
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Posted 27 January 2007 - 07:59 PM
Tower reversal is a candle stick reversal pattern, it is rare and little known.
Basically after a prolonged uptrend or downtrend, stock prints a long stick in the direction of the trend. It has no tail or shadow , just body. A long stick that looks like another breakout.
Then the next day (or week in the case of GS) stock reverses and prints the same size or longer stick in the opposite direction retracing previous day's entire stick or more.
After this reversal, usually trend reversal occurs even without any consolidation.
#6
Trend-Signals
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Posted 28 January 2007 - 07:27 PM
Hi xD&Cox,
What is GS reversal? Are you referring to Goldman?
Could you please define it even though I obviously missed out your previous posts which explained this.
Also, please note my post today on the VLT Trendline Resistances.
Markets are at 86yr very LT trendline Resistances
Markets are at the critical juncture so hopefully, The Fed Bernanke will exercise his sober mind!
Well, considering the extreme bullish sentiment, your call for LT top, if you are referring to the general market direction, is certainly a bold call, for me, I would like to see a correction and work through any excessive market bubble.
Thanks and Good trades
What is GS reversal? Are you referring to Goldman?
Could you please define it even though I obviously missed out your previous posts which explained this.
Also, please note my post today on the VLT Trendline Resistances.
Markets are at 86yr very LT trendline Resistances
Markets are at the critical juncture so hopefully, The Fed Bernanke will exercise his sober mind!
Well, considering the extreme bullish sentiment, your call for LT top, if you are referring to the general market direction, is certainly a bold call, for me, I would like to see a correction and work through any excessive market bubble.
Thanks and Good trades
Edited by Trend-Signals, 28 January 2007 - 07:30 PM.
