In through here... Tony is calling Cup and Handle.... I'm saying contrary indicator ;)
I was saying Flag.... and it feels wrong.... but I don't know what the hell to think... Let it play out, try and play.
Tuesday, May 12, 2009
mucho support
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Looking at charts now for 18 months and learning all the terms and patterns, I'm finally at the point where my minuscule knowledge is truly dangerous.
I can offer up the conventional wisdom of what the pattern looks like, and you can add the nuanced diabolical retort.
After months of study, I can now see what "everyone else" is seeing, but that is a prescription for herd-following and money loss. Cup-and-handle is way way too obvious, so it must be a head fake. And my Costanza trade is to fade my interpretation as a contrary indicator, as you have pointed out.
Maybe I'll just go to T.Lo's Core/Strategic allocation and work on my chipping and putting. lol
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