To: UFO

Posted 29 April 2008 - 07:31 PM

why is my downtrend line different than yours? i'm confused...

http://stockcharts.c...2439&r=2745.png

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Posted 29 April 2008 - 07:41 PM

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Posted 29 April 2008 - 07:42 PM

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Posted 29 April 2008 - 07:47 PM

The spacing looks like your on semilog and UFO is not.

yes... that is it... so the question is... which scale is right... ... your the sigma black belt statistician P.E., ... whats your thought on this?

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Posted 29 April 2008 - 07:52 PM

Speaking of QQQQ...I'm starting to visualize a measured move to $52.75 after the FED meeting. Momentum (Inertia) was "SMOKING" going into the March 2008 low. We're actually starting to set up a "cup with handle" pattern that Mr. O'Neil would be proud of. (CANSLIM) (1 chart)

U.F.O.

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Posted 29 April 2008 - 08:01 PM

TA, U crack me up. Most of the newer charting books say to use semi-log. Edwards and MaGee use semi-log in most of their book but go out of their way to state that the advantages are minor. I use both, frequently in the same session. Interesting question. If I use arithmetic on QQQQ right here and get a trendline break buy signal and someone else uses semi-log and misses the signal by a couple of days how much of an advantage did I really have? Less tha a point? It could, and does, easily work the other way. Neither charting style presents a defineable advantage in determining overall market direction. It's really more of a "feel" thing. I use semi-log more on LT charts, FWIW. U.F.O.

Edited by U.F.O., 29 April 2008 - 08:06 PM.

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Posted 29 April 2008 - 08:44 PM

TA, U crack me up. Most of the newer charting books say to use semi-log. Edwards and MaGee use semi-log in most of their book but go out of their way to state that the advantages are minor. I use both, frequently in the same session. Interesting question. If I use arithmetic on QQQQ right here and get a trendline break buy signal and someone else uses semi-log and misses the signal by a couple of days how much of an advantage did I really have? Less tha a point? It could, and does, easily work the other way. Neither charting style presents a defineable advantage in determining overall market direction. It's really more of a "feel" thing. I use semi-log more on LT charts, FWIW.

U.F.O.

i think thats what keeps horizontal price support more important than diagonal trendline support... or does it...

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Posted 29 April 2008 - 08:51 PM

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Posted 29 April 2008 - 09:04 PM

Depends on the security and the timeframe and about 1mm other variables. Sometimes diagonals make the trade. If it was always just one way of looking at support/resistance levels being the most important, this game would have the profit potential of trading odd-lot T-Bills. That's why I tend to aggressively poo-poo volume confirmation of price movements. (No offense SemiBizz) I obviously know that volume is important. I also know that large players not wishing to leave a trail operate slowly and under the radar when possible leaving few volume tracks. These sneaky b'tards in the street know every trick in the trade. 1/2 the game is figuring out the market. The other 1/2 is figuring out the opposition. Both tasks are difficult. U.F.O.

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Posted 29 April 2008 - 09:45 PM

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