tag:blogger.com,1999:blog-3909505513533980987.post2534130750812172582..comments2022-08-01T05:34:44.020-04:00Comments on Trader Craig's Market Edge: A Triangle In FordAnonymoushttp://www.blogger.com/profile/09362814861901777574noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3909505513533980987.post-10177879742999611962009-08-06T02:56:32.431-04:002009-08-06T02:56:32.431-04:00I liked Stephen Schork's answer, sometime in t...I liked Stephen Schork's answer, sometime in the 4thQ 2008, to the question when would crude bottom. He said that he didn't know when, but he could guarantee that he would still be short (at the bottom). I thought "Right on" ! Someone who understands that surprises are usually IN the direction of the trend.<br /><br />Unfortunately, he has erred on the opposite side by being too bearish this year because of bearish fundamentals. Maybe, he was another permabear who was hitting the ball because that's where "they" were throwing it. However, when the mkt started throwing the ball someplace else he kept whiffing.<br /><br />I made the "declining 5th wave" comment after seeing EWI's Dollar Index chart. Looks like plenty of room on the downside (sentiment included). <br /><br />It constantly blows my mind how many traders, who have read the lit, ignore "Don't try to pick bottoms & tops"; & ignore "The trend is your friend" & are constantly scalping 4 or 5 ticks in the direction or against the direction of a 4 or 8 POINT move.<br /><br />Regards, <br />davedavenoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-59071770630803590072009-08-05T17:04:53.826-04:002009-08-05T17:04:53.826-04:00Agreed on the Dollar, except that I think when it ...Agreed on the Dollar, except that I think when it turns, it will be dramatic.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-72598993357385026012009-08-05T11:53:44.716-04:002009-08-05T11:53:44.716-04:00"...ample evidence that the Dollar is approac..."...ample evidence that the Dollar is approaching an important low despite today's action."<br /><br />Waiting for a declining 5th wave to end is like a 45 y.o. woman waiting for her bf Godot to marry her. Of course, the 5th wave will end, but better money is made elsewhere.<br /><br />Regards,<br />davedavenoreply@blogger.comtag:blogger.com,1999:blog-3909505513533980987.post-5248352053746843272009-08-02T09:33:36.638-04:002009-08-02T09:33:36.638-04:00This received little to no attention, that i'm...This received little to no attention, that i'm aware of, 20E crossed 200E for SPX for the first time since late 2007 (when the bear mkt was beginning). This occurred Fri 24 or Mon 27.<br /><br />Of course, this happened long ago for Q's/NDX at the end of May.<br /><br />Regards,<br />davedavenoreply@blogger.com