Comments on: GMI: 6; GMI-S: 75; Whipsawed again http://wishingwealthblog.com/2007/01/gmi-6-gmi-s-75-whipsawed-again/ A stock trading blog by Dr. Wish Tue, 22 May 2012 04:05:32 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Phil Ruane http://wishingwealthblog.com/2007/01/gmi-6-gmi-s-75-whipsawed-again/comment-page-1/#comment-230 Phil Ruane Thu, 25 Jan 2007 17:36:42 +0000 http://wishingwealthblog.com/?p=424#comment-230 Dr. Wish, I find that I'm having a lot more success reading just weekly charts for this market. If you look at Google and Apple by weekly charts, we would have had very little reason to sell them, yet I was well out of Google and Apple by the time the class simulation ended. Even though the market is whipsawing (which drives me crazy too!) the major indexes (NASDAQ comp and S&P 500) have found a remarkable amount of support on their 10 days. Trying to "swing trade" in this whipsawing, schitzo market is a good way to lose money. The buying high and selling low lesson is a lesson I'm going to have to learn over and over again. Dr. Wish, I find that I’m having a lot more success reading just weekly charts for this market. If you look at Google and Apple by weekly charts, we would have had very little reason to sell them, yet I was well out of Google and Apple by the time the class simulation ended. Even though the market is whipsawing (which drives me crazy too!) the major indexes (NASDAQ comp and S&P 500) have found a remarkable amount of support on their 10 days.

Trying to “swing trade” in this whipsawing, schitzo market is a good way to lose money. The buying high and selling low lesson is a lesson I’m going to have to learn over and over again.

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