Jump to content



Photo

''Joe six pack'' and the Nasdaq


  • Please log in to reply
1 reply to this topic

#1 andr99

andr99

    Member

  • Traders-Talk User
  • 4,543 posts

Posted 06 August 2019 - 04:08 AM

''Joe six pack'' is the nick name I gave to a friend of mine who is a novice to stock trading. He firmly believes to the power of lines and drawing the line in the image below, he thinks the nasdaq has topped out. Being a novice, he doesn' t know that 95% of probabilities are that the strong hands are making him see the retreat of the index after meeting the long term trend line, just to break it up later when ''Joe six pack'' has entered a fully short position. In other words, what is obvious is never the right thing...........I think Joe will learn it by the end of the year.    

 

https://postimg.cc/3yqrW0Hc


Edited by andr99, 06 August 2019 - 04:09 AM.

forever and only a V-E-N-E-T-K-E-N.....though partly langbardic


#2 andr99

andr99

    Member

  • Traders-Talk User
  • 4,543 posts

Posted 06 August 2019 - 04:46 AM

might we go as low as 7300-7400 and then up in vertical mode to break up the long term trend line   ?


Edited by andr99, 06 August 2019 - 04:48 AM.

forever and only a V-E-N-E-T-K-E-N.....though partly langbardic