SPDR S&P 500 (SPY): Swenlin, One has to be careful about...

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Re: fishbait post# 82819

Saturday, 06/13/2009 8:04:38 AM

Saturday, June 13, 2009 8:04:38 AM

Swenlin,

One has to be careful about Guru's interpretation of data. They always find the little things to make their cases. But their decisions were made a priori. He concentrates on the little divergence of the summation index. On the other hand, if he was bullish, he would concentrate on the index being way above 0. It would be politically correct to go with the flow ...resistance, divergence, retrace and perhaps back up. Same with Marty Chenard preaching bad things just about every day. Just wonder how his subscribers survive. Now if the guru says it is consolidating at the high and that signal is bullish and will bust through resistance and if that is realised, then he is a real guru. Unfortunately, there isn't many out there. At least not on a free site.

good luck

2bit

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