Is 5450 the bottom?

Rapaport · 26 Re: Is 5450 the bottom? Tue Jan 24, 2012 11:22 pm

Rapaport

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I look at things differently. I look at 5-10 years ahead and plan investments accordingly. It makes things look more practical.

Cheers!

smallville · 27 Re: Is 5450 the bottom? Wed Jan 25, 2012 12:29 am

smallville

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Rapaport wrote:I look at things differently. I look at 5-10 years ahead and plan investments accordingly. It makes things look more practical.

Cheers!

Furthermore; it means ease of pains.. more time for other work, well life balance is there..

Well plan ur investment and invest on your plan Wink

Antonym · 28 Re: Is 5450 the bottom? Wed Jan 25, 2012 1:04 am

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gann wrote:I have a strong feeling, this could be the bottom of the bear run. I could be very wrong.

Just repeating something I said on another post

Check your longer term charts:
You will find that, after the ASI bottomed out at 1,608 in March-09, it went all the way to 7,864 in Feb-11 without a proper retracement - until now!
Yesterday, we saw a bounce back from around 5,451; it is interesting to note that 5,474 represents the 61.8% Fibonacci retracement level.

(However, if you think that a 50% retracement of that long upmove is likely, then we are talking about the ASI dropping to 4,736.)

gann · 29 Re: Is 5450 the bottom? Wed Jan 25, 2012 8:29 am

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bottom - Is 5450 the bottom? - Page 2 2012-010

As I have said. this is a probability. I am not going to take it to the bank. lol!

gann · 30 Re: Is 5450 the bottom? Wed Jan 25, 2012 8:32 am

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Antonym wrote:

gann wrote:I have a strong feeling, this could be the bottom of the bear run. I could be very wrong.

Just repeating something I said on another post

Check your longer term charts:
You will find that, after the ASI bottomed out at 1,608 in March-09, it went all the way to 7,864 in Feb-11 without a proper retracement - until now!
Yesterday, we saw a bounce back from around 5,451; it is interesting to note that 5,474 represents the 61.8% Fibonacci retracement level.

(However, if you think that a 50% retracement of that long upmove is likely, then we are talking about the ASI dropping to 4,736.)

If you take the previous top 3030 on 2007 feb. 5450 sits exactly on 50% retracement from 7850 on 14th feb 2011.

aj · 31 Re: Is 5450 the bottom? Wed Jan 25, 2012 8:53 am

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How do you analyse the bottoms before the March 2009? Shouldn't there be more than one historical bottom used to draw charts? I know very little about technicals? But if this is valid shouldn't you take into account more data than the 2009?

gann · 32 Re: Is 5450 the bottom? Wed Jan 25, 2012 9:48 am

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aj wrote:How do you analyse the bottoms before the March 2009? Shouldn't there be more than one historical bottom used to draw charts? I know very little about technicals? But if this is valid shouldn't you take into account more data than the 2009?

well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

Antonym · 33 Re: Is 5450 the bottom? Thu Jan 26, 2012 9:37 am

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gann wrote:well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

@gann: That is a brilliant observation!
However, I would still keep a little funds in reserve - just in case the 5,450 support breaks.

gann · 34 Re: Is 5450 the bottom? Thu Jan 26, 2012 12:12 pm

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Antonym wrote:

gann wrote:well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

@gann: That is a brilliant observation!
However, I would still keep a little funds in reserve - just in case the 5,450 support breaks.

Yeah. You have to have a trading/investing strategy. I know 99.99% of investors/traders here just try to play it by the ear and loose. Again i stress here no one can pick the bottom. stick to one's own proven strategy.

sriranga · 35 Re: Is 5450 the bottom? Thu Jan 26, 2012 12:39 pm

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gann wrote:

Antonym wrote:

gann wrote:well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

@gann: That is a brilliant observation!
However, I would still keep a little funds in reserve - just in case the 5,450 support breaks.

Yeah. You have to have a trading/investing strategy. I know 99.99% of investors/traders here just try to play it by the ear and loose. Again i stress here no one can pick the bottom. stick to one's own proven strategy.

I do agree.

Slstock · 36 Re: Is 5450 the bottom? Thu Jan 26, 2012 12:57 pm

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gann wrote:
Yeah. You have to have a trading/investing strategy. I know 99.99% of investors/traders here just try to play it by the ear and loose. Again i stress here no one can pick the bottom. stick to one's own proven strategy.

Good to see you back Gann. Yes what you say is true.

Rajaraam · 37 Re: Is 5450 the bottom? Thu Jan 26, 2012 2:41 pm

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gann wrote:

aj wrote:How do you analyse the bottoms before the March 2009? Shouldn't there be more than one historical bottom used to draw charts? I know very little about technicals? But if this is valid shouldn't you take into account more data than the 2009?

well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

Gann, I think your analysis is more accurate. Today Turnover is around 2.3 billion. Thank u brother.

aero · 38 Re: Is 5450 the bottom? Thu Jan 26, 2012 2:52 pm

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Rajaraam wrote:

gann wrote:

aj wrote:How do you analyse the bottoms before the March 2009? Shouldn't there be more than one historical bottom used to draw charts? I know very little about technicals? But if this is valid shouldn't you take into account more data than the 2009?

well previous top becomes support. so from support to resistance the price has retraced 50%. which means the 5400+/- ares should be a good support level.

Gann, I think your analysis is more accurate. Today Turnover is around 2.3 billion. Thank u brother.

I do agree. Gann you are grate analysis..