Technical Analysis with shade343. Lecture 2
-
I thought is 12% hmm...Originally posted by shade343:According to the listing manual, at least 30% of a company's share must be in the hands of the public. A counter is liable to be suspended if less than 10% are in the hands of the public.
in any case there shud be enuf shares on the market, 1% of DBS shares could be several million shares worth millions of dollars, I can't imagine why any single investor would want to short 1000 lots of DBS, if the DBS board decided to act buy back even 1%, these shortsellers could be caught "naked" of a few million dollars, bu si kai wan siao ok
-
Hhhhh.......Like this also discuss.
It doesnt matter.
Continue with the lecture please.
Can go until lecture 12 please? Hurry. -
Friend,Originally posted by casino_king:Technical anylysis is just another tool the gambling operators use to induce people to gamble. The gullible think that they have something concrete to go on when they use technical analysis.
Gambling is gambling. In the long run you will end up losing all you have. if you become an addict, you might end up dead. Many gambling addicts wish that they were dead because the addiction is worse than death.
It is very simple. When you are lucky, you win and the market is always there waiting for you to become unlucky.
When you are unlucky, you exit because you run out of money. Technical anylysis is there to trick you into thinking that there is more to it than "luck." It is what kills you in the end, the illusion that it is skill and not luck.
You are a little bit delusional.
Do you know what TA is?
Precisely with TA and FA then trading the stock market is not gambling. -
Today I decided to contribute some graphs, to make this thread more lively, coz it has been quiet for few days already.
The following will start with a focus on Support.
Support, what is support?
Support is support loh. Already explained by shade343.
Let's take an example of Yahoo, shall we?
Ayeh, ok.
This is a yahoo chart, I am taking a 3 years chart. Why so long? Just so it become more nice for our example loh.
This chart was taken by me coincidentally on 10 March 2006, I was posting at another forum, later I show the latest chart of today, so we can see how to progress after looking at a chart.
Yahoo, the symbol is YHOO.
(not yayo, ok)
This is YHOO daily chart.
-
You see that? Now you imagine drawing horizontal support lines.
Can imagine anot?
Now I give you this chart, after this you must imagine it yourself ok.
(haha joking)
-
OK this is for the weekly chart. 3 years weekly.
Then this is the Support.
-
As I said, those charts were taken at 10 March, now we see real application of Support in action during current time.
Let's get serious.
If you see those chart, and you want to trade YHOO, what will be your directional bias? Up or down?
It hits the support level already isnt it?
Say, up or down?
If you follow shade343 explanation, then it should go up, because as it hits Support, it will bounce back up. (at least for short term). (short term for this kinda thing means not more than 5 trading days).
This is the latest YHOO chart as of today, 17 March 2006. Today 19 March is Sunday, so the latest trading day was Friday, which was 17 March.
Let's take the shorter time frame, not 3 years anymore, this is past 6 months, so we can see bigger.
Then this is the even bigger, so we can zoom and see clearly. This is 1 month.
'Last point' is actually the last point in our 3 year chart example, the one we saw first time.
YHOO bounced up in the next few trading days, as Support is providing help.
-
And now we see an application of Support turning into Resistance.
If you notice, why the price doesnt go any higher leh?
Because it meets resistance.
-
Sian, nobody likes to talk about TA.
How come this thread so quiet? -
Are you sure TA work? To me, stock market is about sentiment and fundamental. TA is for those who want to justify their sinful fees and confuse investors. Sorry, I am not talking about you
-
Hi, me again.....
Ya, TA works.....TA is basically just sentiments.....like when you see somebody hand shakes because he is afraid...... and then he runs away......that is a sentiment......next time you only need to watch his hands.....got shake anot.....if you see his hands shake again.....then you can predict that he will run.......Well, TA is same principle....TA is simply watching sentiment.....Same thing really......
As you see from charts above.....those are real applications on how TA works...
I understand some people are sceptical....because how can we see those black bars and then predict....such nonsense idea...sound like hype......but if you observe a guy with shaking hand always run away......and this happen again and again......you can then conclude the next time his hand shake, he will run....this is TA in essence....
But anyways,
Actually Im here to talk about Support and Resistance again. Please contribute and talk here also leh......
I have PM-ed shade343 as a courtesy and sought his permission. It was graciously granted. (He's the one who opened this thread). So now let's talk about other forms of Support and Resistance.
We've seen horizontal S/R.
Now let's talk about non-horizontal S/R: rising and falling S/R line. -
Eh sorry....I just saw shade343 opened another thread on lecture 3 on trendlines. I think we move there....
-
TA is like making a wild guess... if you are right, you boast to the whole world and if you are wrong, you blame something... anything....Originally posted by exkiwi:Are you sure TA work? To me, stock market is about sentiment and fundamental. TA is for those who want to justify their sinful fees and confuse investors. Sorry, I am not talking about you -
Firstly....do you mind me asking....Originally posted by casino_king:TA is like making a wild guess... if you are right, you boast to the whole world and if you are wrong, you blame something... anything....
Im not trying to arrow you or attack you personally, what Im trying to do is.....to know...why or how, you end up thinking this way. What made you draw this conclusion that TA is actually 'like making a wild guess' , as you put it.
How long had you been a TA practioner before you finally found its 'fault' and decided to abandon it? And what are those?
Perhaps this will make a more useful discussion this way. -
Aiyo!! You know what is irritating? You guys post all this and yet I try to read so hard over and over again but still don't understand!!!!!
I want to understand but don't understand liao... How?? Really want to learn leh.. -
What are you talking about? TA?Originally posted by dinky1409:Aiyo!! You know what is irritating? You guys post all this and yet I try to read so hard over and over again but still don't understand!!!!! I want to understand but don't understand liao... How?? Really want to learn leh.. -
Here is another application of Support and Resistance.
This is the US S&P 500 index. Here is the chart last Friday. It's so beautiful, I just cant resist posting it as an example.
Then if we draw the Support and Resistance, it becomes like this:
So beautiful right? The chart is so nice.
On Monday the price went up.
On Tuesday it violated its nearest horizontal support level (for this we have to skip the explanation on this part, otherwise we have to talk about other things, which are not the scope yet). However it stopped and closed at the next SR level.
On Wed, another help from the new nearest SR level. (Wed is today).
-
LKS, you seems to be good at TA although I know nuts about it.
Honestly, how much you make to date by investing stock purely based on TA? -
Actually everything... Its sad really. I really want to learn but websites are useless. So forums is the best.. DO you have msn Ka Shing? Mind if I have it so I can ask you qsns..Originally posted by Li Ka Shing:What are you talking about? TA? -
How do u determine Support and Resistance line in a chart?
A simple question but i dun seems to understand. haiz ...
Thanks -
It's a little private? But all decisions I made were based on TA. They're all in essence TA.Originally posted by exkiwi:LKS, you seems to be good at TA although I know nuts about it.
Honestly, how much you make to date by investing stock purely based on TA?
I dont really use MSN since long time ago. Why not just post here, we can all help each other.Originally posted by dinky1409:Actually everything... Its sad really. I really want to learn but websites are useless. So forums is the best.. DO you have msn Ka Shing? Mind if I have it so I can ask you qsns..
Ok, take a look at this chart here.Originally posted by Rustyhong:How do u determine Support and Resistance line in a chart?
A simple question but i dun seems to understand. haiz ...
Thanks
This is DELL. This is a bar chart. The black bars are the prices.
Can you see where the bottom of the black bars is?
Not the latest bar, not the bottom of the latest bar. Im talking about the bottom of the whole black bars in this overall chart. Collectively. Where is the bottom of those black bars?
Now imagine one horizontal line. Imagine the line running from left to right. This line is straight and horizontal.
Place your line connecting the bottom of those black bars.
Try it out.
Maybe you can post your result here.
Save this pic onto your comp, then open it using Microsoft Paint or whatever, and draw the line. Then save your edited pic, and then post it here. -
why doesnt my pic show? -
Not quite understand there.. sorry..Originally posted by Li Ka Shing:Ok, take a look at this chart here.
This is DELL. This is a bar chart. The black bars are the prices.
Can you see where the bottom of the black bars is?
Not the latest bar, not the bottom of the latest bar. Im talking about the bottom of the whole black bars in this overall chart. Collectively. Where is the bottom of those black bars?
Now imagine one horizontal line. Imagine the line running from left to right. This line is straight and horizontal.
Place your line connecting the bottom of those black bars.
Try it out.
Maybe you can post your result here.
Save this pic onto your comp, then open it using Microsoft Paint or whatever, and draw the line. Then save your edited pic, and then post it here. -
Maybe you put the HTML tags wrongly a bit.Originally posted by Rustyhong:
why doesnt my pic show?
Anyway, it works, try using [i m g] and [/ i m g] ,without the spaces.
Your pic is like this here. I help cut away the excess white spaces to make the pic smaller.
Quite good what. You know already.
Just that if I were to draw, I would draw it up a little, at $29 there. The $29 is a stronger Support level than the lower $28.6 - $28.7. Because at $29 we can see more action of the Support, more price bars hovered and bounced up at $29. The $28.6 - $28.7 line you draw is also a Support level, just a little bit more minor that's all.
In practice there are many lines we can draw in one chart, not just one single line. The line you draw is also one of the Support lines.
So, congrats! You now understand already. Simple right? -
I mean, to look at the bottom of the black bars, in the chart.Originally posted by dinky1409:Not quite understand there.. sorry..