Yup - due to the index selldown of 30m+ number of shares and I bailed out at 62c/63c when they provided the update which showed that the company is wallowing in debt and unsold stock.
I am a kind person - even dogs deserve a pat once in a while!
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im in for a short term bottom fish only at the moment
here'e some fib levels based on retracement of the decline from 1.80 - .96
1.16
1.28
1.38 - 50%
1.49
Does this fib (ironic?) include all the new shares in it's calculation?
Fibonacci sequence as you already know is a mathematical formulae that freaky occurs and reoccurs in numerous natural sciences. For charting market prices, it is just the points in between two share prices that might indicate potential market (population) sentiment. Funnily enough the strong Fib numbers do often indicate support or resistance to SP movements, the 0.618 in particular.
It's not necessary to deride it as it's just one of the very many share price performance indicators, trying to make some sense of market participants sentiment in a natural system of chaos (the market itself).
Bulkowski has no idea or interest in future earnings, or any fundamental analysis. His analysis is purely on price movements in a market and the patterns those form, and the probabilities of share price movement after the pattern has formed. It's just another lens into the market, with the sole purpose of 'timing' a buy and/or sell, with the ensuing greater or lesser probability that the price will move one way or the other.
All good traders make two trades at the same time, the buy with the limit sell, or the short sell with the limit buy. The spread between them changes based on the probability of the trade, low probability tight spread, high probability loose spread.
If someone on here posted that they've nailed a system for reading tea leaves or chicken entrails for improving their insights into timing their market buys and sells, albeit tempered by probabilities (statistics), before I suggest that they are deluded and mock the system, I would read everything I could find, thousands of pages over many years in excruciating detail (like you do FA), and then apply it myself to real world data, back test it across numerous use-cases, and make up my own mind whether it was Bulkowski, or Bull****.
The Fibonacci sequence of numbers 1, 1, 2, 3, 5, 8, 13, 21, …, each of which, after the second, is the sum of the two previous numbers; that is, the nth Fibonacci number Fn = Fn − 1 + Fn− 2
https://thepatternsite.com/FibonacciTargets.html
:)
I would certainly do this if I had the time, but around 2 Billion people told me they have a system where they are going to a place called Heaven and essentially living in paradise for eternity as long as you follow a few simple rules, and so I decided to investigate as you suggest is prudent and I'm not even through the first Testament yet. Then I have the Quran.
Ha ha, good one, if they help you time your buys and sells in the market then it will be worth it, but don't forget the Tanakh, the New Testament, the Analects of Confucius and the Rig Veda. When you're done with that if you're not old and decrepit, have a read of Bullkowski as well, download a free charting tool like Livecharts.com or Tradingview.com and have a play with that as well.
;)
Baa_Baa what's this guys track record (CAGR)? Can't seem to find anything online.
Nothing like free tools that can make you an unlimited amount of cash.
I've been a paid up member of Tradingview for many years, very good platform. Often you post charts and I think that the software looks dark ages compared to Tradingview, thought you didn't know about it.