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#21
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Right. It goes down 7 consecutive days on above average volume. It's "completely meaningless" to think that the selling MIGHT be nearing and end by the 8th day. Thank you for your compltely meaningless contribution to the thread. [/ QUOTE ] Okay, let me make sure I have it. If market goes down 6 days in a row, that isn't good enough. But after the 7th day it is time to buy. Got it. |
#22
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Paluka,
The secret to riches don't you see!??!?! |
#23
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[ QUOTE ]
[ QUOTE ] Right. It goes down 7 consecutive days on above average volume. It's "completely meaningless" to think that the selling MIGHT be nearing and end by the 8th day. Thank you for your compltely meaningless contribution to the thread. [/ QUOTE ] Okay, let me make sure I have it. If market goes down 6 days in a row, that isn't good enough. But after the 7th day it is time to buy. Got it. [/ QUOTE ] fwiw... Since 1974, the Nasdaq has seen only 6 losing streaks longer than 8 days... 2 9-Day streaks in 1982; 3 10-day slumps, one each in 1974, 1975, 1984; and 16 straight days of losses in 1984. |
#24
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[ QUOTE ]
[ QUOTE ] [ QUOTE ] Right. It goes down 7 consecutive days on above average volume. It's "completely meaningless" to think that the selling MIGHT be nearing and end by the 8th day. Thank you for your compltely meaningless contribution to the thread. [/ QUOTE ] Okay, let me make sure I have it. If market goes down 6 days in a row, that isn't good enough. But after the 7th day it is time to buy. Got it. [/ QUOTE ] fwiw... Since 1974, the Nasdaq has seen only 6 losing streaks longer than 8 days... 2 9-Day streaks in 1982; 3 10-day slumps, one each in 1974, 1975, 1984; and 16 straight days of losses in 1984. [/ QUOTE ] Right. But think about what that means. That means that there were 6 9 day in a row streaks and 4 of those produced losses on the 10th day. So if you bet on the market going up because it had gone down 9 days straight every time, you would have lost. |
#25
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[ QUOTE ]
[ QUOTE ] [ QUOTE ] [ QUOTE ] Right. It goes down 7 consecutive days on above average volume. It's "completely meaningless" to think that the selling MIGHT be nearing and end by the 8th day. Thank you for your compltely meaningless contribution to the thread. [/ QUOTE ] Okay, let me make sure I have it. If market goes down 6 days in a row, that isn't good enough. But after the 7th day it is time to buy. Got it. [/ QUOTE ] fwiw... Since 1974, the Nasdaq has seen only 6 losing streaks longer than 8 days... 2 9-Day streaks in 1982; 3 10-day slumps, one each in 1974, 1975, 1984; and 16 straight days of losses in 1984. [/ QUOTE ] Right. But think about what that means. That means that there were 6 9 day in a row streaks and 4 of those produced losses on the 10th day. So if you bet on the market going up because it had gone down 9 days straight every time, you would have lost. [/ QUOTE ] I didn't hear him say this was a 1 day bet? What about day 11, 12, etc... The market was (is) oversold... he was merely taking a position with the odds in his favor... can the market stay oversold sure... and fish can hit 2 outers also! |
#26
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Not so fast Groty. Paluka has more than a clue. His posts may be short and sarcastic, and that's OK. PM the guy he knows what the hell he is talking about.
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#27
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Not so fast Groty. Paluka has more than a clue. His posts may be short and sarcastic, and that's OK. PM the guy he knows what the hell he is talking about. [/ QUOTE ] The issue here is that there is no clear right/wrong answer. Groty is not a passive investor, he is actively taking a position in the market. Taking off a short when the market is oversold, is no stranger than any other trade... |
#28
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OK just discount Paluka input, ignore Paluka and pretend Pauluka has nothing to offer.
That's a little like not paying attention to useful information the environment is making available now. |
#29
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Mr Now, Groty is making a play based on the market being oversold.
I'm not marginalizing Paluka's input, but really all he's said is just because the market is oversold doesn't mean it has to bounce. Do you have an opinion on the market? |
#30
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Groty, any update?
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