one day after coming home from a vacation, I went to a tea leave shop and had my fortune read by a gypsy. she told me I had just come back from an overseas scuba diving trip, how many people in my family etc etc.
I was not in a wetsuit and my hair was not wet. but this was the correct reading of the leaves.
moral of the story: if the market goes with your chart, then you are genius. most often this is because you had guessed right about something fundamental, and "seen" "weakness" in the chart if you are short.
For example the trend in many gold stocks is up. but if peace is declared tomorrow and the iraqis assasinate saddam and arafat pleads with the pope for forgivness and the anti gravity device boeing is working on becomes real, it really does not matter what the chart says. it will make a new trend.
charts are suckers for a change in outlook
augies? chart of the nas 100 over the last 10 years is pretty impressive in its symmetry. it says bump now
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