Believe your lying eyes

tarmarder

Q's closed at the mid-point of today's range.   Where does it go next?  The best scenario for bears is to gap down under the strong support 200 DMA 33.80 then down she goes.  For bulls, Nasdaq had better wait for SP500 and Dow to catch up over 200 DMA then continue higher.   Which one will win out?

All the fibs, TA, charts, lies can't determine where the market is going.  It's up to MMs agenda at their chosen price and chosen time.  We are under their mercy to be profitable in the market... or NOT!

Remember:

We go up in order to go down.  We go down in order to go up.

Believe what you are seeing.  The market is always right.

逆水之舟

good post, thanks

slcgh

happyface

We go up in order to go down.  We go down in order to go up.
I really like that.

Diver

Q's closed at the mid-point of today's range.   Where does it go next?  The best scenario for bears is to gap down under the strong support 200 DMA 33.80 then down she goes.  For bulls, Nasdaq had bet ...
tarmarder 发表于 2009-5-8 19:06

tico

小亥

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tarmarder

Viewers, the last two lines in my original post don't came easily.  My another post "What exactly is TA made of?" is another summary of years experiences.  

I was looking for the Holy Grail of the trading systems.  I learned TA, Fib, charts and believed those lies.  But they all failed me.  I don't believe any Holy Grail anymore, period!  None exists!  You are only playing the PROBABILITY game to participate in the market.  MANIPULATION (by MM or government) do exist but not always.

However, I'm not trashing TA completely.  I wouldn't be a better trader than before without knowing TA.  TA only helps to increase your odd to win the trade.  

The more I play the market, the more humble I am.  Those who has no respect to the market will have to learn.

So, what exactly is my point?  You need to build your pool of tools.  The tricky thing is to know what tool to use in ever changing market condition.....  I'm still learning.

And I believe that many of you with similar experiences agree with me... or NOT!

benshou

We go up in order to go down.  We go down in order to go up.