Count me in that camp too!
You know what Richard? I played with Goldcorp (GG) as I told you before. I rode it up, then sold. It went down... I bought again when MACD turned up. I rode it from 26 to 41 & the stock started to drop. MACD turned. I sold at 39+... thus I missed the high that... hmmmmrummmmph... my father nearly grabbed. He sold at $40+. (Weeks earlier, I had called him and said "Hey Dad... humor me... buy some GG". He said "it's good?". "Yes, dad... just humor me, okay? Buy some." A couple of hours later, he trumped me with a large position in GG... then sold higher than I did. Dannnnnnnnnng. I was impressed. He's happy. I'm happy too, but for a different reason --> just gettin' brownie points for heaven... everyone needs a stash, no?! ).
Anyway... it was MACD that made me make the trades when, in all fairness, everything I read.. every publication... every "clip" on Bloomberg... all said that it was a momentary pause. Well now... MACD hasn't signaled any sort of change. I just wait because until I see a convincing turn, I can't lower the risk of the trade.
That's just one of many little stories, but MACD has really helped me on specific issues.
I'm happy with holding "very little" because that just shows how keenly we anticipated what's coming. Or... maybe we learned from the bruises of prior periods of being blindsided? You know how I hate "blindsided". Some folks hate risk or loss. I can handle risk... I can choke down loss in a ladylike manner, but I just absolutely hate being blindsided.
Thus... we read... and we read... and we read. And, when all is said and done, the reading didn't nail down anything other than give us heartburn. MACD nailed most of my trades.
Bravo to the chartists of the world.
Remember when that arrogant %&^&*^%$#%^& said "I've never seen a wealthy technical analyst"? As if the technicians were too risk adverse? Frankly, I have no idea if the technical analysts are wealthy, but my hat is off to their methods, that's for sure. I read every chart posted here & elsewhere. I'm not sure I see the whole picture everytime, but every view of every chart leads to better understanding.
AI
