October 2nd 2006, Black Monday?

Quote from blk:

Well, even if they've been artificially driving it up the Dow, havent they been doing it for days?

If I understand correctly, this system should have taken in that information to "predict" outcomes.

So markets are random. Just way too many variables to predict anything. Take oil sell-off for one - this is being pointed to as the rally's cause.
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There are times when markets are news driven, no system can predict that. Also, I am not certain, but did the system predict some sort of Black Monday or a decline?

EDIT: I think looking at the initial chart, the system predicted a head and shoulder pattern, which hasn't happened as the DOW continued to the upside. What was the reasoning, i don't know.
 
Quote from romik:

There are times when markets are news driven, no system can predict that. Also, I am not certain, but did the system predict some sort of Black Monday or a decline?

EDIT: I think looking at the initial chart, the system predicted a head and shoulder pattern, which hasn't happened as the DOW continued to the upside. What was the reasoning, i don't know.
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Dan05's latest DJIA "prediction" was posted yesterday. Just scroll up a few posts. (I dont know how to link to his attachment, else I would've posted it here).

According to his chart, the Dow should be around 16000 today. But its at new highs instead - this is not even a possibility in his system's "prediction".

Dan, care to update the system's "prediction"?
 
Hi BLK,

Attached the update from the system. Check how it changed the prediction with respect to the original I posted, computing the last market days activity.

There is still a down trend probability. Seems logical to have a market correction the following week.

Take care



Quote from blk:

Dan05's latest DJIA "prediction" was posted yesterday. Just scroll up a few posts. (I dont know how to link to his attachment, else I would've posted it here).

According to his chart, the Dow should be around 16000 today. But its at new highs instead - this is not even a possibility in his system's "prediction".

Dan, care to update the system's "prediction"?
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Attachments

Quote from dan05:

Hi Everyone,

As some followers know, I've been following a market predictor system that seems to predict with certain accuracy the markets.

I generally disregard swing trading strategies, as I only daytrade. But as the system also issues a 20 day prediction, and I know there are some swing traders in ET, I wanted to share with you the following chart.

The same pattern is predicted in almost 50 different markets, so I would be aware of a Black Monday for Oct2nd.

Take care !

Dan
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Great call!!
 
Quote from aus_SPIder:

i dont buy into this whole crash stuff.

But i am loaded long in Oil and Short in SP. Its almost an arbitrage scenario, oil goes up and itll break the back of the US economy. US Economy goes UP then oil will rise as well as US is the largest consumer of oil in the world.
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You did get out of these right?
 
Quote from Buy1Sell2:

Great call!!
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There have been too many people starting - "this is the top" threads. Now we can add Dan's "predictor system" to that list too :p
 
Ok, it's official. Now, I'm bullish.

In fact, I bet most people have switched to a bullish position. Some are later than others. Myself included. LOL

Now that most are bullish, does this mean we are going to be heading into a bear market?

BTW, I saw the charge, and the prediction system was updated recently to include "anything can happen" LOL.


Frank
 
After seeing many bears switch to bull mode I think im leaning towards going long this week too.



Im short and actually thinking of adding some long positions:

SMH
RTH
EWZ
QLD
HHH
 
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