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bulls9999

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bulls9999

Re: stevesokol21 post# 61037

Wednesday, 05/14/2014 7:50:24 AM

Wednesday, May 14, 2014 7:50:24 AM

Post# of 179945
The strength in the charts is not that they predict what will happen, but that people believe in them and make moves based on them. It is that belief that allows one to rely on them to a substantial degree. If enough people believe strongly in RSI as a factor, then they sell off at high RSI values and buy back in when it goes below 50. If enough people believe in those numbers, they will follow suit and the stock pps will respond accordingly. It's more that people believe and buy/sell based on that is what makes it work, simple as that, imo.
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