I'm Into Gold , My Family would say : The best word to descibe me is.
Good article Avi. Totally agree with your comments regarding fundamental analysis. Seems so logical, but in the short to intermediate periods the market does not give a damn about fundamentals. So many self proclaimed analysts out there who were so wrong in the bear market who amazingly are again on the wrong side now that it appears we are in a bull now.
Thanks Plunger. But, the difference between you and I is that I feel the same way about FA in the long term as well. You see, at the end of the day, FA is no different than simple trend following and is unable to identify a market turn. Simply because a market is moving in the same direction as FA does not make the drivers of FA the director of the market, but more of a coincidental factor. So, how is it any different than a simple trend channel, other than the trend channel break can sometimes provide you more advance warning of the trend change than FA.
Avi, Quick question on EW and and its ability to predict trend changes. I usually see both bullish and bearish counts on all of the free EW sites and have head through the “grapevine” that last Thursday your EW counts were primarily bullish and that you were long but also you also had Hedges based on you “alternative bearish count.”
Is this true? If so, I would assume the hedges were closed near the open at a loss? TIA
depending upon the chart, both counts are usually in the same overall direction, but the differences are a matter of degree.
As for my EW counts, they were looking higher, with the potential to hit 21.20 before the rally began. But, I sent out an update on Wednesday night entitled ““Downside Patterns Have Completed,” and posted that I was out of all June puts at that time and was long from that point.
Best line from The article Avi
“Need I say more? Probably not, but, I will anyway”
I can relate