myinvestorsplace
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From a technical standpoint a Head and Shoulders pattern break is becoming evident on the Dow Jones Chart...Depending on who you speak to ..this is confirmation for them...and they feel that the Dow Jones could fall to the 8000 point range.. That is a pretty big drop... That is a ton of money wiped out.. That will create even more fear....I think you know by now..I don't predict.. I prefer to react...Reacting keeps me in this game.. I watch my risk...and monitor the money management rules...
There is a book by Mark Douglas.. I believe it is called the Disciplined Trader...where there was a section in which an established Hedge Fund was looking to hire a new trader... The new trader came in the job interview...and was so confident of a position to take...because...it either broke a trend line.. or support or whatever.. The crusty successful Hedge Fund manager probed him regarding his confidence in this trading decision...The new trader was extremely sure... the stock or whatever...had broken either support or trend line... and he was POSITIVE it was going to fall to X...The crusty Hedge Manager picked up the phone and called in an order to the floor buying x number of shares in that position...Low and behold the share turned around and did not crash to the floor...
What is the point... Anything can happen... Is it possible with all this extreme fear in the stock markets..they rally?? You know what.. I do not know... but I believe anything can happen and position myself for that as best as I can...
Andrew Abraham
There is a book by Mark Douglas.. I believe it is called the Disciplined Trader...where there was a section in which an established Hedge Fund was looking to hire a new trader... The new trader came in the job interview...and was so confident of a position to take...because...it either broke a trend line.. or support or whatever.. The crusty successful Hedge Fund manager probed him regarding his confidence in this trading decision...The new trader was extremely sure... the stock or whatever...had broken either support or trend line... and he was POSITIVE it was going to fall to X...The crusty Hedge Manager picked up the phone and called in an order to the floor buying x number of shares in that position...Low and behold the share turned around and did not crash to the floor...
What is the point... Anything can happen... Is it possible with all this extreme fear in the stock markets..they rally?? You know what.. I do not know... but I believe anything can happen and position myself for that as best as I can...
Andrew Abraham
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