I keep on hoping on ATVI, bought in at $11. They've had a lot of the same arguments though the past few years short of the new consoles and yet their stock price has stayed fairly static. They just print money in their games though. What used to be a $60 game (Call of Duty) now has and additional $60 worth of DLC in maps, and now they're selling various skins as well.
Looks like a chart that is primed to grind sideways to higher in the long run when I first looked at it. Just a glance with no real analysis. I think a pullback of 20% and then basing out for a run higher would be the most healthy scenario for a move higher.
It is definitely going to go higher, if we are talking about 100 year charts. In the meantime, it will break 1,000 first. BOJ news will hold the market up for now, covered my short from yesterday. The next 5% up in the S&P will suck in Joe public, the tail of the move.
Yeah I was gonna clarify that it looks like a chart where I would buy any sell offs to strong support. Also the volume sell off and major bounce tends to imply major support. I'd love to buy if the s&p ever got to 1000 again. I can't see it happening (random catastrophic events being ignored) with this kind of overshoot to the downside and huge V bottom bounce but one can always hope.
How do you gather all that info from a chart? Isn't it just spitting out things that have already happened in a random pattern? I am not trying to be mean I want to understand.
Its called Technical Analysis and people actually trade off of trends in Charts rather than Fundementals. http://stockcharts.com/school/doku.php?id=chart_school:chart_analysis:chart_patterns Though a combination of the Technical and Fundamental analysis is probably the best approach. Certain Chart patterns can trigger a sell off or rally basically because traders have set stop limits etc. based off of those patterns. It usually does not last long if the fundamentals don´t support the direction.
Just the intuitive side of my brain from trading for 9 years. I'm just glancing at the price action and the trend of the chart. And that chart isn't random. It is showing prices in time where people were willing to accumulate and dump stock and how high or low they were willing to buy or sell.
Well a 35% drop would represent an average bear mkt I think. I guess I just don't see any catalysts with the Fed still backstopping everything for at least the next 18 months. Plus I think if govt can ever ****ing reform the mortgage market so it isn't amazingly oppressive to get a loan then that will help too. I do agree that the market being up here doesn't make too much sense when you look at it as a rally of P/E multiple expansion and not earnings expansion. That 1000 mark on the S&P would represent a nice place to load up based on current P/E. Maybe I live in too much of a bubble here in Austin, but I just can't think of any major catalysts to ignite a significant bear market with the Fed backstop firmly in place. Anyhow, I hope you are right cause I'd love to trade it, but like I said I just don't see the catalysts for that 2 year time frame.
a wise turkey used to tell me "only people who refuse to believe what the charts are telling them need reasons (catalysts)"
Yes. From what your previous post says, he said exactly what I suggested. We're at a triple top, and if it doesn't break through and go up more, it could go down (and maybe quickly!). That's meaningless.
