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