May
6
Thought of the Day, from Anton Johnson
May 6, 2011 |
It is refreshing to experience mythology in real-time. Yesterday, CL stop running was near picture perfect, acceleration through resistance, a short reversal and pause to retest, then a sharp move to take out the next.
But then again, describing a chart formation as being a resistance or support is subject to one's perspective. For clarity, support should replace resistance.
Victor Niederhoffer writes:
One must not forget the ecology of markets. All related. Down big in so many has gravitational and equilibrating return.
Jonathan Bower comments:
Overnight CL trading reminded me of this Simpson's episode. Enjoy.
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