Wednesday, March 24, 2010

The Daily Note - Technical Skeptical

I did some fun charts last night. RIMM and GOOG revealed their 3D patterns to me. I've never before noticed how that can happen. First I noticed it on RIMM how the parallel lines worked on the same angles. Just copy click. WoW I thought, 3D. (OK maybe my son invaded my thoughts to see things that way. Digital artists do that stuff and he's working on a new demo reel). Anyway, RIMM looks like it has places to go. As does GOOG.

I really like physics and geometry, yet, I am skeptical about all this technical utopia I am witnessing on the charts. I was only a new technician in '99 so I don't recall patterns. I was happy to know what candlestick meant, other than what I lit on the dining room table. I need to forget about air pockets on this flight and just enjoy the highs, but I prefer to be the pilot to my destination, so keeping that in mind I also need to heed my skepticism.

How long can we stay aloft? Helium, natural gas or methane? I have no clue; I was a horrible chemist, but if I recollect correctly, all three can be exploded, given a lit match. I keep remembering lessons taught over and over and over again.. trust 2 things when trading: your gut and your charts and if they don't match, don't trade.

Just know that in 3D or 2D charts are your guide. If you don't trust one, it's hard to trust the other and you must learn to trust your charts and act on your gut together.

Happy Trading Living and Dancing

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