gold, page-4302

"When you find yourself doing what the rest of the market is doing in a bubble market watch out below."
I got the exact opposite impression of Joe's trading strategy (and he is trading in the most predatory market of all)...along with ...and I know this...IG (Investment Grade) ASX common stocks...the very best, least indebted, quality management etc......for the longer term....he's told us what they are...as have I....in gold...and other sectors...none are dogs.......and not picking bottoms or tops....but watching price action, with special regard to traditional Support / Resistance levels for entry / exit....tho he might sometimes use different terminology (swing hi, swing low - much the same). It's a shame people don't care to dig deeper, beyond the conventional wisdom (which is always conventional, rarely wise).

In fact the greatest regard for those horizontal (north / south ) levels, without the frills of TA, used by so many, and if all use them (say...95%), like most retail chartists /TA's, then how on earth does that give one an advantage over the next guy? Clearly, it can't, it's defies all logic, if they're all doing the same thing, using the same signals, crossovers and divergences, etc. Perhaps it's not a co-incidence that this 95% (estimate of mine) is identical to the 95% of Active Traders who fail (generally acknowledged).
But into weakness, sell into strength? Is that so unreasonable?

As an aside I would not short the SP500 (which I note is a pip away from a 2016 intra-calendar year high), even tho it's tripled since GFC level trough of 750. It may be insane, and it will collapse from 2,250-2,300, but until then....
While markets are not always rational (even Keynes - a keen trader - said that), they are always "right". It can be very expensive to prove to the market that you (one, anyone) are right and it is wrong.
Trade (invest - the distinction is blurry) what you see, not what you think...or want to happen...hope is not an investment (or trading) strategy....not news, I know.