Just one more short point on that post last night about the MI '5 day down' scan, especially if any newbie read it.
This scan has nothing to do with share price trends in the medium term, all about identification of very short term 'relief rallies'.
Relief ralllies are quite mindless but are repetitive therefore can be traded but have NO bearing on where the SP will be in a months time.
The guys that I know that use this scan ask one question and one question only of it, show me some codes where I can dump say $100k in the market for 1 or 2 days at low risk and walk away with $2000 in the back pocket, they ask nothing else.
Much better TA tools for medium trend trend analysis out there for the newbies out there.
I feel much better now, carry on forum.
