Archive through May 27, 2005

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elisabeth

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Post Number: 167
Registered: 09-2002

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Friday, February 11, 2005 - 07:06 pm:

Is that a double bottom - maybe? (tho' I think the R trough is slightly lower than the L, but it's hard to tell when you're holding a plastic ruler on the screen)

Do patterns apply to an advance/decline line?

Perler, thank you for posting this chart each week.

Elisabeth

perler59

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Post Number: 528
Registered: 09-2003

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Friday, February 11, 2005 - 07:31 pm:

Hi Elisabeth. I see a lower top and almost equal bottoms. I don't think we can draw much meaning from this line unless it takes a big dive, at which time we will probably see XSO do the same and only the big boys will be holding XJO up.

I can NOT control the markets, so I MUST control myself.

ingot54

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Post Number: 406
Registered: 05-2004

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Saturday, February 12, 2005 - 09:03 am:

Hi folks - Thanks for this weekly update Perler. I do like to follow it.

Elisabeth - I believe patterns do apply to anything that moves in accordance with sentiment, and that includes ASX300.

I have always thought that for a double bottom to be valid, it must occur after a longish decline, and would signify the end of the trend.

Similarly, for a double top to be valid, it needs to occur at the top of a longish rally, and if confirmed, would be a signal of reversal of the trend.

To be valid, double tops/bottoms need to test the level at the "neckline" - resistance for double bottoms, support for double tops. Once the trend breaks through these levels, the reversal may be confirmed.

I am open to correction. Perhaps someone may refine my evaluation further.

If a kite can just catch the breeze, how high can it go...

perler59

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Post Number: 529
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Friday, February 18, 2005 - 04:03 pm:

Two lower highs in a row now... Hmm!
AD-300

I can NOT control the markets, so I MUST control myself.

hilarius

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Post Number: 506
Registered: 04-2004

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Friday, February 18, 2005 - 07:25 pm:

Perler

Do you have the same info for the Top 20 and the Top 50?

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

perler59

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Post Number: 531
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Friday, February 18, 2005 - 07:36 pm:

Hello Hilarius.

No I don't. Sorry. Related to that, a chart of XTO is interesting. Money flow diverging from price.
XTO

I can NOT control the markets, so I MUST control myself.

perler59

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Post Number: 535
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Friday, February 25, 2005 - 04:58 pm:

I can NOT control the markets, so I MUST control myself.

perler59

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Post Number: 543
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Friday, March 04, 2005 - 03:58 pm:

A rather unconvincing recovery

I can NOT control the markets, so I MUST control myself.

perler59

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Post Number: 558
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Friday, March 11, 2005 - 04:49 pm:

The successful traders are the ones who's tolerance for their own bad habits, runs out before their money.

perler59

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Post Number: 565
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Friday, March 18, 2005 - 06:25 pm:

The successful traders are the ones who's tolerance for their own bad habits, runs out before their money.

hilarius

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Post Number: 609
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Friday, March 18, 2005 - 07:15 pm:

Perler

Any predictions?

I see 2 lower lows and 1 lower high ...

It would seem like a hard struggle to make a new higher high from here ...

So another lower high? Followed by ... ???

Does it bear thinking about?

Hilarius

I come in peace to share my thoughts and to shine my candle light on possible long term opportunities

perler59

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Post Number: 566
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Friday, March 18, 2005 - 08:00 pm:

Hilarius,
The market is undecided and so am I

I still have a slightly bullish bias, but I'm waiting for more evidence.

The successful traders are the ones who's tolerance for their own bad habits, runs out before their money.

perler59

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Thursday, March 24, 2005 - 10:46 pm:

The successful traders are the ones who's tolerance for their own bad habits, runs out before their money.

rederob

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Post Number: 675
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Friday, March 25, 2005 - 09:10 am:

Perler
On 18 March you said, "The market is undecided and so am I
I still have a slightly bullish bias, but I'm waiting for more evidence."
Are you still waiting?

perler59

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Post Number: 575
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Friday, March 25, 2005 - 10:45 am:

Hi Rederob.

No more waiting is required. The bears are out of the cave but I'm not expecting them to stay out for long. Perhaps two or three more weeks? Just a wild guess!

The 14 week RSI of XJO tells the story quite well.

The successful traders are the ones who's tolerance for their own bad habits, runs out before their money.

rederob

Member