Oops! I overlooked this: The print edition of Barron’s picked up last week’s Bull or Bear Market? commentary. The focus of that piece was a technical observation about the markets, and our expectation that the SPX could pull back to 1100-1105 before bouncing, based only on the charts.
I find it amusing when people call technicals “voodoo,” thus revealing their ignorance of accumulation and distribution by the large institutional players. (Remind me to tell you a Sands Brothers story on that in the future).
The SPX hit 1101, before bouncing over 40 points. This is not a testament to my ‘genius” — rather, its an acknowledgement that the charts often reveal where buyers tend to come into the market, and where sellers might later appear. I couldn’t imagine not looking at a chart prior to a purchase or sale, if only to see where my stop losses should be placed . . .
Bull or Bear Market?
Barron’s MARKET WATCH TODAY
Monday, October 5, 2004
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.