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Saturday, March 7, 2009


It means contrary to what intuition or common sense would indicate.

Friday, I went fishing in the stock market. Instead of being the big fish eating the little fish, I was the little fish. Just hoping I am not the smallest fish.

Started the day with $gs b 82 1pt stop 2 pts profit, no buts about it.

I was trying to anticpate a bounce and thank goodness for stops.

Next, I saw the golden cross on the 1m and proceeded to buy at 77.70.

I seldom use the 1m because there can be a lot of noise. You can see that in the above chart.

Compare the 1m to 5m. This is why I use multiple time frames, but did not on Friday. If you are going to fight the trend, then use stop and don't be too stubborn to take a loss. I was too stubborn.

In one of my conversation with tradefast -

tradefast@fortune8 charts don't lie, they accurately depict the past- determining the serial correlation of prices is the challenge, some art/science

Here, I was trying to predict the future move of the stock without any success.