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Post# of 279080
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rpudd

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rpudd

Re: MOMO post# 157082

Tuesday, 08/23/2005 12:35:58 PM

Tuesday, August 23, 2005 12:35:58 PM

Post# of 279080
I wonder if trading using charts is a like a self fulfilling prophecy. This bounce off of 13 has that feel. Longs or Q could care less about 13 vs 14 (they both suck) but daytraders using charts sure care. They see 13, it means something in the chart world, and so they trade and the stock moves according to their chart wisdom. And so charts are used by a trader to predict the action of a trader who also uses charts.

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