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Re: Why Technical Analysis is Garbage


@Bentley wrote:

@Holiday wrote:

 

 

The green line is "resistance".  Price action above it was largely due to P/E multiple expansion as exuberant investors "hopped aboard the train" due to a fear of missing out.  These periods don't usually offer much in the way of support when the market corrects on fundamentals.

The good news is that VTI closed near support and may rebound nicely today. I suspect that it will test this level, and lets all hope that it holds. If it fails, then it looks like roughly 5% drops to the $110 area  where there is a longer history of price consensus. $110 is formidable. It would probably take a recession or other 1st class disaster to break through it.

96.94% of the stocks that trade on the NYSE declined yesterday. Let's all hope that this spurious glance is the the worst we can expect.

Thank you,

Holiday


 

 WOW, a 17-year-old post. Anyways I hope your right about VTI; this is what I posted yesterday morning.

 

Bentley
yesterday
Re: Time to start buying/

"Just backed up the truck; sold GLD bought back in Sept 2018, and enough BND to buy a boatload of VTI at 128."

<snip>

That might turn out to be a pretty good call.  I hope the trade works out for you.

Thank you,

Holiday

 

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Valued Contributor

Re: Why Technical Analysis is Garbage


@Holiday wrote:

@Bentley wrote:

@Holiday wrote:

 

 

The green line is "resistance".  Price action above it was largely due to P/E multiple expansion as exuberant investors "hopped aboard the train" due to a fear of missing out.  These periods don't usually offer much in the way of support when the market corrects on fundamentals.

The good news is that VTI closed near support and may rebound nicely today. I suspect that it will test this level, and lets all hope that it holds. If it fails, then it looks like roughly 5% drops to the $110 area  where there is a longer history of price consensus. $110 is formidable. It would probably take a recession or other 1st class disaster to break through it.

96.94% of the stocks that trade on the NYSE declined yesterday. Let's all hope that this spurious glance is the the worst we can expect.

Thank you,

Holiday


 

 WOW, a 17-year-old post. Anyways I hope your right about VTI; this is what I posted yesterday morning.

 

Bentley
yesterday
Re: Time to start buying/

"Just backed up the truck; sold GLD bought back in Sept 2018, and enough BND to buy a boatload of VTI at 128."

<snip>

That might turn out to be a pretty good call.  I hope the trade works out for you.

Thank you,

Holiday

 


 

@Holiday   Happy to report it did work well today. VTI up 9.10% today.............:) Thank you, Mr Bogle,

 

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Re: Why Technical Analysis is Garbage

This is a legacy thread brought into the new forum.


@yogibearbull wrote:

You are reacting to post in 2002!

 

@Holiday wrote:
This is actually a very old thread that somehow came back to life.
Let's assume it is the work of benevolent Providence, and take an amateur's look at VTI.


 

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Valued Contributor

Re: Why Technical Analysis is Garbage


@Gary1952 wrote:

This is a legacy thread brought into the new forum.


@yogibearbull wrote:

You are reacting to post in 2002!

 

@Holiday wrote:
This is actually a very old thread that somehow came back to life.
Let's assume it is the work of benevolent Providence, and take an amateur's look at VTI.


 


Ten hours ago @Bentley wrote:

WOW, a 17-year-old post. Anyways I hope your right about VTI

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Participant ○

Re: Why Technical Analysis is Garbage

@yogibearbull wrote:

You are reacting to post in 2002!


Because I didn't want to start a new thread.. 

And seems folks have something to say except for you..

Thanks Holiday!

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