Tuesday, August 04, 2009

Fibonacci tutorial

A pretty good overview from Market Club:

Fibonacci tutorial




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7 comments:

Anonymous said...

Wow! Talk about being spectacularly wrong about going short on XLF when the market "flipped short" a month or so ago. No end in sight for longs. I feel really bad for those that paid our pal Allan here any attention.

Allan said...

You must feel really bad for anyone that followed Allan into GFRE at 22c seven months ago. At $1.12 today, poor souls now going to get whacked with capital gain taxes.

Anonymous said...

glad to see you finally admitting...or at least not denying how bad your call for going short has been.

Allan said...

What call for going short are you referring to? I have been forecasting a continuation of the bear market once this rally is over, but that can't be what you are talking about, since that is a forecast, not a "call."

There have been several instances where the market has triggered short-term sell signals, most of which didn't go anywhere before stops were hit or reversing buys were triggered, so that's not what you are talking about.

Maybe you just made up your mind that I was short and that is what you are talking about? But that's your reality, or fantasy, not mine.

Feel free to come back anytime and tell us how that is working out for you.

Anonymous said...

Allan,
CVM, OPK, any update?
incase of stop loss where it should be?
Serge

Anonymous said...

hows that guru working for you so far? lol

Anonymous said...

Allan,

I'm sorry but some of your followers seem like jerks.

I've only been checking out your blog for a short period and quickly learned that you trade your methodology/systems, NOT your forecasts.

They seem to take pleasure in wanting to catch you make a bad call.

In reality all professional investors make bad calls but unlike amateurs, they cut losses quickly.

At the same time, I can't help but ask WHAT IS EVERYONE'S FIXATION WITH FORECASTING??????

I've had my best investment year EVER, and I attribute most of that success to following the market and not trying to outsmart it with "rational investment decisions" that inevitably involve my ego.

(Thats without adding MC and BWT to my arsenal YET!)

Ken Fisher refers to Mr. Market as "the great humiliator" for good reason.