Generally, you gave an excellent presentation.
Having read several books of a historical nature, I learned that it was the Japanese who came up with candlestick charting, which is the method I prefer. It was first used in their commodity markets.
I am not sure about charting origins from China, though it certainly would make some sense, as Tsong-guo is the Middle Country, from which the early Japanese derived their written language and other cultural aspects, though they are a very distinct culture, as most know.
As for Point and Figure Charting, it is definitely for the long term and to establish very long term trend lines. Can't say I know of its origins.
All in all, a very impressive and informative post.
Fortunately, I am spending my time with classical music as the pressing stuff on the TV is an overload to my circuits.
No thoughts for the morrow, though today completes 6 straight days in the green. I should think it would be time for a lot of sideways action, a period of consolidation. However, can't ponder the range of the swing, though anything above 19 will bust through a very long term line of resistance.
Other than that, like you said, charting is based upon past activity and outcomes which may or may not have a repeat in the future. This move, in my opinion, does not fit the crash and burn of the last 18 years pump and dumps. So, bottom line, we either climb higher, or consolidate or even drop down. I am confident that most people here are going to hold and ride this one out.
A lot less promising past scenarios led to no sustainable pattern of holding gains. We probably are back to the hope game again, at this juncture. "Does she love me, does she not?"
I am thinking that LQMT stock should start loving me as an adopted grandfather, as crotchety as I am, because I have lived through it all. I know for a fact that I am despised by all of the management teams that have come and gone, but am quite at home with most of the past directors.
