Originally Posted by
oldno7
So back to indices based funds.
As a tech trader, yesterday day was a fibonacci projection date I had from some time ago.(I gave these dates to my bogley tech learnin' guy on March 4th)
Today, in a perfect tech world would be a slight blow off rally/dead cat bounce/or as I prefer, a Ross hook.
My next fibonacci date is 3-20, tomorrow.
So in a perfect tech world, tomorrow would take out yesterdays low, we then rally from there into the DOW 24,000 range.
From there more math is needed.
Right or wrong--thats how a tech trader thinks.
If I'm wrong--I will only have 95% of my allocated funds in the market.
If I get lucky, I'll be 100% invested for the run up to 24,000.(20%+ profits from here)
If it continues down, I'll play the cards I've dealt myself, knowing I purchased a lot of funds in the last couple weeks for a great discount.