Wait For Follow-Through Day Before Buying

Quote from CutsThrough:

That there are sellers in a declining market? Sure. But, I see no point in forming a conspiracy theory. The market is set up so that most players can play anonymously. To distract oneself with obtuse theories of motivation of people you can't even, for sure, say are participants at the specific moment is a complete waste of time and shows the true sophistry behind one's analysis.
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Yes but there is inside information. In fact there are those greater than myself or you for instance that acknowledge that the best edge is inside information. SAC has publicly declared (if publicly declared one must surmise that it is pervasive) they are opening a D.C. office to lobby (cough, cough) I mean influence Washington contacts. SAC is a financial concern not an environmental organization.


Oh, whatever......


But yes sophistry is a great word.
 
the rally Attempt Analysis has been around for a long time.

Check page 59 of an early edition of HTMMIS By WJO.

If you want to do a complete job with it, you can use it in two other applications as well.

All applications are for the IT.

You will see it repeatedly fail at a time when a major crash type senario is coming up. Most aggresive traders who follow WJO go to cash after it has failed two or three consecutive times.

It can also be used to understand how a Bear IT is ending during the ending period of the Bear IT.

There are few analysis techniques in the 4 to 10 day range that work as well as this for markets.
 
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