2006 plus 2007 overlaid
It's deja vu all over again
GD
'06 bottom vs. '07, day 2
Started by
gorydog
, Aug 20 2007 09:08 PM
6 replies to this topic
#2
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 20 August 2007 - 09:15 PM
Volume is different this time! 
Yeah, well, I had a buy in for SPY and one for QQQQ. I hope you are right because my QQQQ buy hit.
Of course, you aren't making a prediction, just pointing out a remarkable similarity.
Yeah, well, I had a buy in for SPY and one for QQQQ. I hope you are right because my QQQQ buy hit.
Of course, you aren't making a prediction, just pointing out a remarkable similarity.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#3
gorydog
-
- Traders-Talk User
- 738 posts
Member
Posted 20 August 2007 - 09:27 PM
Volume is different this time!
Of course, you aren't making a prediction, just pointing out a remarkable similarity.
SB,
you'd better hope "I'm wrong" then, because it means we will drop by almost 1% tomorrow! I'll confess to being 20% long, looking to add. I don't feel a need to be a hero here, because every time I've done that I ended up on the wrong side.
GD
#4
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 20 August 2007 - 09:39 PM
SB,
you'd better hope "I'm wrong" then, because it means we will drop by almost 1% tomorrow! I'll confess to being 20% long, looking to add. I don't feel a need to be a hero here, because every time I've done that I ended up on the wrong side.
GD
I'm lost. Are you saying you think we drop tomorrow? 1% wont shake me. I don't have my stops handy here at work, but I'm sure it's wider than that. Hmm, I guess you are looking at what happened the next day, a year ago....Ok, I think I get you at this point.
Edited by Sentient Being, 20 August 2007 - 09:40 PM.
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
#5
rkd80
-
- Traders-Talk User
- 2,385 posts
Member
Posted 20 August 2007 - 09:53 PM
2006 plus 2007 overlaid
It's deja vu all over again
GD
Gd,
You comparing the first bottom or send bottom from summer '06? Because the first bottom looks absolutely uncanny, minus the climactic reversal candle. Otherwise the MAs and price patterns look very similar.
“be right and sit tight”
#6
gorydog
-
- Traders-Talk User
- 738 posts
Member
Posted 20 August 2007 - 10:35 PM
rkd80,
It is the June bottom I'm showing, but there are others that look similar going back 15 years. The point is if you only look at the charts, this bottom looks like a lot of other bottoms.
SD,
I have no predictions. I'm trying to do what the charts tell me, and not act on emotions. It is part of my new "George Costanza trading strategy" where I take my first instinct, then always do the exact oppostite.
GD
#7
Sentient Being
-
- Traders-Talk User
- 4,262 posts
Member
Posted 20 August 2007 - 11:26 PM
I would have done better this year had I done the opposite of what I did 
In the end we retain from our studies only that which we practically apply.
~ Johann Wolfgang Von Goethe ~
~ Johann Wolfgang Von Goethe ~
