chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 9, 2019 3:58:57 GMT -8
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 9, 2019 5:11:04 GMT -8
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benoir
fire starter
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Posts: 1,318
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Post by benoir on Sept 9, 2019 5:37:59 GMT -8
215 to start the day
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benoir
fire starter
*
Posts: 1,318
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Post by benoir on Sept 9, 2019 11:31:19 GMT -8
.....tumble weed rolls past...
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Post by rmhe1999 on Sept 9, 2019 13:38:00 GMT -8
I was a little disappointed with the fade-away today. I don’t follow technicals too much, but reading reports of technical resistance at $217 and some pretty significant open interest with the $190 puts. That, coupled with tomorrow’s event is likely dragging on the stock just a bit.
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chinacat
Moderator
AAPL Long since 2006
Posts: 4,426
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Post by chinacat on Sept 9, 2019 15:13:10 GMT -8
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Post by therealmercel on Sept 9, 2019 17:34:29 GMT -8
TA doesn't work. There's no proof. Never has been. Fundamentals and events are what matters. Even Lovey admitted TA has no predictive value - what else do you need to know?
Serious question: Do you CARE about yesterday's weather?
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Post by longsince98 on Sept 9, 2019 18:24:43 GMT -8
TA doesn't work. There's no proof. Never has been. Fundamentals and events are what matters. Even Lovey admitted TA has no predictive value - what else do you need to know? Serious question: Do you CARE about yesterday's weather? Hey Mercel - I share that opinion, and feel your strong stance validates my opinion (since I believe you traded on technicals some years back). But don’t you feel there’s a self fulfilling prophecy aspect to technicals? Using your weather analogies - if enough traders believe it’s gonna rain all week, won’t that cause them to buy umbrellas (& drive those shares)? I’m particularly interested in your POV and the nuance behind your thoughts since (I think) you’ve been on both sides of the fence. Thanks
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Post by therealmercel on Sept 9, 2019 18:36:56 GMT -8
Possibly there are enough traders who draw similar graphs on the intraday, but that's the only timeframe I see that MIGHT become self-fulfilling. Frankly, if TA was predictive and worked consistently, there would be all kinds of evidence to support the claim. There isn't! You can stop right there.
I remember an AFB member named Unique, who used TA during the intraday - it worked until it didn't and he crashed and burned. In Vegas, card counting in blackjack works, as long as you don't get caught. There's no equivalent in the stock market, except predicting how a stock reacts to news about the economy, POTUS tweets, earnings, and the usual geopolitical events, both domestic and international (and knowing BEFORE it actually happens).
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