Hey man I hope this helps to explain the chart patterns. This is TA, not a load of rubbish.Attachment 5710
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Hey man I hope this helps to explain the chart patterns. This is TA, not a load of rubbish.Attachment 5710
Lets put this silly TA notion that some people have into perspective...
No 1 rule,,,, Try not to be biased or try to confirm one's own feelings when drawing charts... it only fools thyself...
I see personal emotion as the enemy and I try to eliminate those feelings when applying discipline..
Public misconception of a Chartist is they know the future and their discipline is criticised when that event does not happen .... Chartists know they can't see into the future..I can't guarantee what will happen with PEB as from today onwards...
However...
From historic observations and outcomes Chartists can produce the odds of a happening occurring..Most Chartists I know are successful ...Commonsense says that if you have odds at 70+% stacked in your favour you are going to have more winners than losers ..you might not get in at the bottom and out at the top but your entry/exits are far more successful and you are rewarded with less risk...
My charts show the odds-on chance of a happening....As of my last chart it showed that PEB is very risky to invest in at that moment of time (price going down to test cliff edge support) ...This stops no-one!! in wanting to achieve finding that magical bottom entry point and buys in against risky odds...no doubt they will advertise their investing prowess and poo poo TA if they succeed.
The whole idea about unbiased charting is to create risk/reward scenario and when its "safe" the charts will tell you...via buy signals..
Who knows... Monday could be the day that my charts say that PEB is a must buy.....when us Chartist deal with a bunch of variables ..we know anything can happen.....We have to keep an open mind...
A random comment on a random blog. Take it for what it's worth:
Quote:
Every headline from every major financial news blog is now calling for a meltdown/crash. I counted at least 8 headlines on MarketWatch telling everyone the bull was over. Even Yahoo Finance was full of bearish discussion.
And the usual suspects like Marc Faber now says "crash worse than 1987", yada, yada, yada.
Today we saw pretty much non-stop put/call readings all morning over 1.30, with an opening print of a whopping 1.42.
Last time a saw that the market turned around within days and went straight up, virtually erasing all of the decline in short order.
My suspicion is way up, particularly since emerging markets are showing no sign of weakness, Greece is able to float new bonds with ease at 4.75%, corporate and junk bonds acting well, etc.
So get ready for a vicious rally early next week.
On a lighter note:ohmy: Watch the latest Hollywood blockbuster .Riders of the Storm versus The Trader Invasion right here on ST in 3D (Rose coloured tinted glasses provided for an extra charge of $1.07,discounted to 80c on monday) Come watch this epic battle as the gritty long termers battle it out with the traders armed with their Graphs,Charts,Pencils and join the dots colouring in books. PS- All moviegoers will be required to provide a pee sample before entering the cinema,results will be available at the conclusion of the movie,failed results will be sent for futher testing to PEB headquarters,those testing positive will be eligible for bonus shares at a heavily discounted price.:cool:
Gosh, you got a different view out of my post than I put in - just go back and read it again - carefully - would you - and then you can sing the song (below). :p Rosy ? Rosy ? Rosy?
This calls for a song:
Hey life look at me, I can see the reality
Cause when you shook me, took me out of my world
I woke up, suddenly I just woke up to the happening.
When you find that you left the future behind
Cause when you got a tender love you don-t
Take care of, then you better beware of the happening.
One day you-re up, then you turn around
You find your world is tumbling down
It happened to me and it can happen to you.
I was sure, I felt secure, until love took a detour
Yeah, riding high on top of the world
It happened, suddenly it just happened.
I saw my dreams fall apart, when love walked away from my heart
And when you lose that precious love you need to guide you
Something happens inside you, the happening.
Now I see life for what it is
It-s not all dreams, it-s not all bliss
It happened to me and it can happen to you
Once!
Ooo, and then it happened
Ooo, and then it happened
Ooo, and then it happened
Ooo, and then it happened.
Is it real, is it fake, is this game of life a mistake
Cause when I lost the love I thought was mine
For certain, suddenly I started hurting.
I saw the light too late, when that fickle finger of fate
Yeah came and broke my pretty balloon
I woke up, suddenly I just walked up to the happening.
So sure, I felt secure, until love took a detour
Cause when you got a tender love you don-t
Take care of, then you better beware of the happening.
Best Wishes
Paper Tiger
Hi Percy, here are the rules of late:
1. Get drunk before you post
2. Always allude to random bad news coming from the US
3. DYOR - actually just Google cancer and pee then post a link
4. If you're a TA guy pick an investor and berate them. If you're long on PEB pick a TA poster and allude to goat's entrails.
These share thingumyjigs certainly obey the laws of physics, because when there's a perceived vacuum, you guys go hard trying to use osmosis to wipe it out! You all shift in and start a party! There's probably more posts in here than when an actual announcement rolls out!