Which Way Dow? Market Direction

[firewalker99]

The Dow has been range bound and has been in a corridor since about the 22nd January 2008. It should make a break down soon.[/B]

As much as I hate to say it, but you're probably right. I'm calling today the tops. Based on nothing but the FIRE WALK WITH ME system . But it still won't go to 0 :cheesy:

 

[firewalker99]

Why 12400? Is there any significance in that number? Please explain. How do you tank if there is a credit crunch around the world?

Of course there's some significance to that number!
I'm surprised that you of all people - the world's greatest mathematician - fails to see that.

(hint: it's the sum of 5 Fibonacci numbers :smart

 

[Holy Grail]

As much as I hate to say it, but you're probably right. I'm calling today the tops. Based on nothing but the FIRE WALK WITH ME system . But it still won't go to 0 :cheesy:

What system do you use?

 

[firewalker99]

What system do you use?

It's based on the golden ratio or Phi (1.61803399...)

 

[BlackMonday]

Ive just spent an hour of life reading this thread, an hour I'll never get back.....................
Holy Grail is obviously an idiot, which is a shame because he kinda has a point.
Fib levels can be hugley significant.
Idoits like him unfortunately give us a fibbers a bad name.

 

[luckyd1976]

Ive just spent an hour of life reading this thread, an hour I'll never get back......................

LMAO

 

[Holy Grail]

Ive just spent an hour of life reading this thread, an hour I'll never get back.....................
Holy Grail is obviously an idiot, which is a shame because he kinda has a point.
Fib levels can be hugley significant.
Idoits like him unfortunately give us a fibbers a bad name.

Yes hugley significant. Thank you! That is what I have been trying to say. Most traders view Fibonacci as Voodoo or Witchcraft trading. Why is that?

 

[BlackMonday]

Because of people of like you:clap:

 

[Holy Grail]

Because of people of like you:clap:

Maybe I should call my system Bat Voodoo Sonar System instead.

 

[BlackMonday]

test

 

[BlackMonday]

Make of the chart above what you will.
Potentially this is a significant week time wise.
Look back 5, 8, 13, 21 weeks, and you see highs/lows.

We have two fib retracements close to where we currently are.

I could be very wrong, but my best guess is we would be going down from here.

No matter how daft you think my logic, at least I'm trying to add to substance to this thread:whistling

 

[Holy Grail]

1 part of my system uses the Darvas Box. Nicolas Darvas was called a Genius by the financial world. The Darvas Box is Fibonacci (support and resistance levels)

Clink on the link below:

Darvas Box Trading

 

[BlackMonday]

a link to a site telling us nothing, and trying to sell something..........

Why not tell us where this system of yours is saying the market will go?

Is it because your system doesn't work ?

 

[BlackMonday]

Darvas ploughed his money into a couple of stocks that that had been hitting their 52-week high. He was utterly surprised that the stocks continued to rise and subsequently sold them to make a rare profit.

Darvas decide to regroup to assess this remarkable occurrence. And it was here that Darvas came up with this approach and plan for trading stocks that was to see him achieve $2,450,000.00 fortune in just 18 months, during the 1957-58 bull market. In total, just 7 short years since his first trade. [5]

In his book Crashes Why they happen-What to do, published in 1988 Robert Beckman noted that the US Attorney General launched an inquiry not long after the publishing of ‘How I made $2 million in the Stock Market’ which strongly indicated that 'the overall claim of the book could be completely fictitious with considerable falsification by omission'. The investigation revealed a number of loss making trades that did not appear in the book. The Attorney General launched a criminal action against Darvas alleging that certain statements he had made were fraudulent. This action was dropped on Darvas withdrawing a counter action for defamation and giving an undertaking never to transact any type of securites dealings in the United States, or to become in any way involved in the US Securities industry. What is not in question is that Darvas made several million dollars from the sale of his book.


Thats what I call a genius.......

How about making a call?

 

[Holy Grail]

Make of the chart above what you will.
Potentially this is a significant week time wise.
Look back 5, 8, 13, 21 weeks, and you see highs/lows.

We have two fib retracements close to where we currently are.

I could be very wrong, but my best guess is we would be going down from here.

No matter how daft you think my logic, at least I'm trying to add to substance to this thread:whistling

Yes you are right. Down from here.

 

[BlackMonday]

Give us your thinking.

Mines out there to be laughed at !

 

[Holy Grail]

a link to a site telling us nothing, and trying to sell something..........

Why not tell us where this system of yours is saying the market will go?

Is it because your system doesn't work ?

The Dow is going to sink to the bottom of the sea.

 

[BlackMonday]

here we go

 

[Holy Grail]

How about making a call?

What do you mean How about making a call?

 

[TheBramble]

Down to 12,643 or up to 12,952? Or both? In which case, which way first?

I made this post at 09:54 GMT.

I was 10 points out on today's high of 10,942.

This was nothing to do with Fibs and everything to do with basic grunt work.