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Thursday, September 27, 2007 1:10:00 PM
If I might offer a suggestion as regards actually coming to understand the SPZI chart, I think it will help you enormously in beginning to understand what the recent low volume down tick is telling us about the momentum and the dominant trend os the SPZI chart if you will do some of the following educational exercises. Some are as easy as listening, so you can actually type in all the whiny posts your heart desires even as you listen LOL.
The best resource on price & volume is:
"Timing the Trade: How Price and Volume Move Markets!" by Tom O'Brien
The new, updated 2007 edition is available from Tommy O'Brien's web site (not sure that the version in stock at Amazon is the 2007 version) and this is that link
http://www.safe-sure.net/store/merchant.mv?Screen=PROD&Product_Code=NEWTTT&Category_Code=FB&...
Also, he broadcasts 3 hours live each day at the following times & links:
9 AM Central (1 hr)
http://www.tfnn.com/listen_live.php#openinggrowl
3 PM Central (2 hrs)
http://www.tfnn.com/listen_live.php#tomobrien
He explains his volume based timing the trade approach over and over and over and over and over, day after day after day.
Next, you might think about reading these books:
"Candlestick Charting Explained" by Gregory L. Morris (2006) ISBN: 007146154X
"Japanese Candlestick Charting Techniques, Second Edition" by Steve Nison (2001) ISBN: 0735201811
"Momentum Explained, Volume II, with CD" by Martin J. Pring (2002) ISBN: 0071384030
"Technical Analysis Explained : The Successful Investor's Guide to Spotting Investment Trends and Turning Points" by Martin J. Pring (2002) ISBN: 0071381937
((NOTE: Check out the review of this book in both Futures Magazine & Forbes Magazine
1. "One of the best books on technical analysis to come out since Edwards and Magee's classic text in 1948.... Belongs on the shelf of every serious trader and technical analyst."
Futures
2. "...Technical Analysis Explained [is] widely regarded as the standard work for this generation of chartists."
Forbes))
If you will devote your energies to this type of learning, you will never again have to repeatedly embarass yourself on blog boards by having to admit that you simply do not understand what the chart is actually telling you. And let me ask you: have you ever spent as much time trying to help someone learn some deeply insightful methods for investing as I just spent trying help you? With all due respect, there is far too much of a get rich quick mentality being exhibited these days.
For your own investment future, take responsibility for yuor own investment education. As regards this little pinky, the Spooz iBox is brimming with a vast resevoir of factual info that is painstakingly maintained by other people as a free gift to anyone wanting to understand Spooz. But as the list of resources I listed above, it is simply a decision you make as regards improving your understanding of candlestick charts.
Hope this helps.
"Just my opinions, folks. Do your own due diligence & make your own decisions. DO NOT... I repeat... DO NOT make any investment decisions on my comments. They are my opinions. That's all they are... OPINIONS."
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