The Surf Report

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Quote from JSSPMK:

Hold on, you were saying something about past events and present...

So are you saying now that because there are similarities between 1987 and present price action you expect similar outcome? Wouldn't that make it a pattern?
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please :)
 
Quote from marketsurfer:

patterns exist and repeat, however the pattern repeats in a non predictable fashion.
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You know when you said you were bearish on gold not so long ago (though decided not to call it) did you see a pennant there forming and perhaps you could have seen histogram rising towards the centreline nearing the apex of the pennant (you've probably vomited at this point :)). That is one of the standard technical patterns. No point saying it was reviewed in hindsight, as I posted my opinion on it at the time prior to the move. What happened to price soon afterwards? Do you really suggest that the lift was purely coincidental?
 
Quote from marketsurfer:

what price to buy?

thanks,

surf
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Bought it going into the close at 90.150 but considering current price it doesn't really matter if using a Market Order.
 
suggested taking profits on friday--- flat presently

stay short OIL for now.


not trading today due to holiday.


standing by projection that tuesday will be up in DJIA and just may present a KILLER long opportunity. stay tuned to surf report for entry levels.


regards,

surf
 
Quote from marketsurfer:

all very typical of whats to come. i have seen this before, the cycle is repeating....
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I don't get this, you keep saying that patterns are not worthy of paying attention to, though you keep hinting at cycle comparisons, then you say it's to do with facts, please explain how your above statement on cycle repetition has nothing to do with a pattern, if you believe in cyclical behaviour in markets then how can you be refusing to admit that patterns exist?:confused:

BTW nice crude and YM trades, though I would have thought that you would hold onto YM trade for a lot longer considering your previous losses in it.
 
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