This post is written with the utmost respect and sincerity for Tangilles and followers
My motivation in posting is not be vindictive or mean spirited, but to help those newbies expand thier approach to finding trades.
Must traders will never admit that it cost them about $50,000 in bad trades to lose the ego and learn the basics.
This post is written in response to her many posts on the OIH and RSH boards.
She seems to be a good chartist and with some real ownership over the some of more popular techinal indicators.
Unfortunatly, techinals are only half the equation when trading , the fundematals being the other half.
A mority of the generals ( hedgies, mutual funds, big dollar traders, etc ) take a much more rounded approach towards isolating theier trades.
Fundementals help you find the trade while techincals help you execute the trade.
I never let the techincals lead me into a trade. Charting is great and important, but remember its only part of the equation.
Case study 1: query her OIH posts calling for a short at 150 when OIL was running and index stocks were annoucing great earnings. Yes, the chart showed a double top , but the fundementals were driving the oil service sector and everything within it.
Case Study 2: Cheerleading about her RSH puts and upper resistance an 20 ema support line. The writing was on the wall that earnings were going to exceed. Yet, she was following the charts not fundementals.
Point: Learn from everyone, but follow know one.
SORRY ABOUT TYPO'S . SUPER TIRED. GOODNITE TABGILLES. HAPPY TRADING AND GOODLUCK WITH YOUR SHORT.