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http://www.marketwatch.com/news/story.asp?guid=%7B2AC14735%2D3FF1%2D42A1%2D9A9A%2DC7AC0F304C38%7D&siteid=mktw

The concept has no merit statistically in equities.. its a small narrow bar.. with no edge whatsoever... I challenge anyone to show me so backtested proof that there is even a tiny edge using them for triggers or whatever in the equities markets.. Yea.. when u combine it with trendlines...

I agree.. if the pattern backtested alone has no value.. why would it have value when combined with other theories... Its nice to cherry pick charts when the NR's had some type of perdicitive value.. but lets be real here.. take a few stocks.. and plot each NR's then work from there.. I...

Its going against the grain of logic... when a market is trending is not reverting back to its mean.. What you are doing is basing a thoery of an inverse relationship.. which has no true edge.. bottom line.. either discuss your system or show us backtested results.. otherwise your posts have...

I love people who talk about some magical system that is making them money.. the truth is that anything u thought of has already been tested many times.. I would love to see the backtested results of the edge you have..

Carbel mentions in his book.. it is more relevant to currencies and commodities.. I agree with him.. Using currencies with a daily chart time frame.. would be ideal.

Hate to burst your bubble guys.. but i spent some time backtesting all these narrow range days on equities.. with many different types of entries and exit.. We tested it on daily data for many different stocks the past 5 years... Bottom line.. there is no EDGE.. --MIKE

This doesnt make any sense.. mean reversion is the opposite of trend following. Sometimes one works better while the other doesnt... its the way markets work... To incorporate both in a single doesnt really make sense.. goes against the grain of what each style is supposed to do..

ApexCoil ,Waggie , Jack Hershey, John Merchant

Can you explain your strategy as how you pick your trades and how you pick the particular option to trade?

Its just funny how he can throw away his entire thesis and analysis because the market failed to close 3 points away from some random price level his magical chart analysis picked out. Waggie has lost his credibility. --MIKE

Its funny how you cant back away and say .. ok I was wrong.. it was a dumb call.. for god sakes look at what the name of this freakin thread is.. """Moonshot Starts Today: 9/29/05""""

Waggie.. here is some logic for you.... Lets say I tell you that the market is going to MOONSHOT.. and I place some stupid random level like 10705 on the DOW.. and the market needs to break this level in order for the move to occur... Now the DOW touches 10705.. and then crashes 500...

What if some big S&P traders pushed the market a mere 3 points and close aboe 1231.. then what... Your analysis is still futile.. bceause the market fell short of 3 points you can now render your analysis usless.. and the markets get destroyed...

Whatever dude... now find a way to dig yourself out of this call. He can start a thread calling for a moonshot on the S&P and now because it didnt close 2 points away from some price level.. all his great analysis is completely moot... Bottom line is that eliot wave, fibs and the other...

yea.. but that can be a one time event.. say it lasts for a few weeks or months where we get a huge directional move.. After that we are back to the boring chop and grind..

Chart does say $63 is key support..

Once OIL breaks $63 we will have a head and shoulders top in place... I would not be heavily long oil stocks right now... --MIKE

i agree.. but not this time in history..

Their savings account is yielding 4%... it is fdic insured and paid monthly.. can someone please explain why anyone would want to be long the stock market for the long term?