The guy claims that he got a buy signal from one of his primary trendicators in 2003. Yet he remained bearish throughout the lifetime of that indicator. But suddenly the light bulb has.....
Anyway, i notice a big shift in TA from esoteric forms of TA like the Spiral calendar, E-wave, Gann Angles, Speed resistance lines, Astro, Fib math, et al to basic trend following using moving averages. Notice Bob Mchugh has switched over to a simple MA based indicator. It's not just him, but a host of other Gurus, subordinating their primary methodology to trend following. When every Guru and their followers are hooked on to these simple MAs, you know the outcome, when it comes to rush for exits - VOLATILITY !.
At best, IMHO, we should enter some kind of a large trading range here or at worst a quick meltdown. The trend has become too popular !
Edited by NAV, 04 June 2007 - 11:17 PM.