Subject: re: correction getting much closer now. Stock Code: XJO - S & P ASX 200 Index Posted: 18/06/07 18:55 Hotcopper Radio: XJO on BoardRoom Radio Posted By: cwliew Views: 362 Post #: 1880383 (In Reply to msg #1880339 from ClarkKent) Sentiment: Buy IP: 123.2.xxx.xxx Voluntary Disclosure: No Stock Held I expect tomorrow to have a pretty boring day - Perhaps even down.
But we are not any closer to a correction this week than we were 3 months ago (from the point of view of changing fundamentals etc). The only thing you've got going for you in relation to a major correction is time factor. And you can NEVER predict when that will happen. Therefore, you can ride the bull market, and get out when there are actually true signs of the market falling.
As for charts, they work as they are a self fulfilling prophecy. I mean - Bollinger, Fibonacci, Elliot wave - they are all crap - BUT THEY WORK due to the herd mentality factor.
So my advice - buy buy buy resources. But watch, and get ready to sell sell once it happens.
cw
I actually have documentation here where major bottoms and tops of markets have been predicted to the precise point and in one instance to within 2 minutes of them occuring.
to say that markets cannot be predicted is 100% a fallacy. The fact is, they can be and there have been people who have done it 6-12 months in advance of when they have happend.
the real test, is can someone do it repeatedly, with the same accuracy. I only know of two people who have done that, one is W D Gann, the other David Bowden. Gann is dead, Bowden lives in Qld. I'm sure there are others who can do it. i'm certainly not one of them and the theories they use do confound me, but none the less, there is documented undeniable proof that, using the methods these guys use, the market has been and can be predicted with, in some cases, exact accuracy.
Gann used the premise that, markets are a living thing and therefore is subject to natural laws, and history always without fail repeats. therefore its actions can be monitored and using its previous history, time and price predictions made. For those who've not done so, take a look at the predictions gann made ... he repeatedly got predictions correct to the exact point and to the very cent and sometimes to the very minute though he was always correct on the day the prediction would happen. absolutely unbelieveable accuracy. with the accuracy he had, you'd turn 1000 into a few million in just a couple months very easily. in fact, i think i read somewhere he put something like 300 bucks into an account and by the end of the month had 40,000 in it purely from profits on trading. made over 50 million in his career .. and back in the 1920's that was an absolutely huge amount of money.
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