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Whether the reasons be fundamental or technical, they are usually given after the
fact by most gurus and analysts. If the market rallies it is because of good
news or it climbs a wall of worry. If the market falls it is because of bad news
or that news was already in the market. The only thing that really counts is
where people put their money and it is price that tells that story. Yes, timing
tools work, buying and selling pressure works, and so does Gann, Eliot and a
myriad of other systems. The key is, does the trader know what the system is
telling him/her, or is he being led by the incantations of others. How many
times has price passed through a moving average only to snap back and continue in
the same direction to trap the unwary? How many times have earnings estimates
been lowered with little or no reaction and then when earnings come in a little
better then expected and the stock crashes because sales, or cash flow has been
reduced or for some other reason? The reasons keep changing for the markets rise
or fall, but the thing that doesn't change is that when money is flowing into an
item it will continue to rise, no matter what the news and vice versa. All one
can do is trade with a method that satisfies his or her personal requirements.
The experienced and knowledgeable will become financially enhanced at the expense
of those searching for the perfect system, the holy grail or someone else to
blame their failure on. So whether fundamentals of technical, those that
understand will be profitable using either system. Ira
Ralph Volpe wrote:
> If I may play devils advocate, let me inject a thought with respect to market
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