Market Direction

Hmmm. This is the most optimistic Nas projection I have seen. Everyone has the same information so, the question is, what are his indicators picking-up that no one elses are?
 

ChartMan

Legendary member
5,580 46
I'd trust him with my life........hehe
If it makes 5000 were all laughing!
That equates to around 100% rise over the year.......we're all gonna be rich

Martin
 

traderx

Active member
146 2
Sounds unreal but I wouldn't write the guy off. He seems to have a good history of forecasting if the accolades are to be believed. Interesting stuff

Tx
 

CHARTY

Active member
119 1
I am not particularly impressed. I am always a bit wary of chartists who display a link to their favourite boot shop on their own website, as this geyser does.
Also, 5,000 is only the 1st step, he sees 20,000, although the timing is not specified. I take it later than 6th February 2,001 anyway.
He has made a good point about the advance/decliners line.
This is a very good indicator for the ling term.
I am not sure if I have anything like that on my software.
I will check.

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The above does not represent financial advice.
 

Dr Iraj

Member
59 2
Yes Martin, we all would be rich if this man's prediction came true. However one of human's pattern of behaviour is adaptation. We must adapt our strategies to work in all market conditions. Make money in good bad and ugly market. The problem is not so much in finding those trendy stocks. The root of the problem is the quick adjustment of the financial market to news flow. Market is becoming more and more efficient by day (especially US market) which in turn limits any kind of short term analysis one needs to reply upon for successful trading. I have never accepted Efficient market theroy but I feel the new wave of traders to both US/UK market has hugley removed the type of in-efficiencies once existed which we used to easily exploit before.


[This message has been edited by Dr Iraj (edited 14-01-2001).]