(Total Views: 313)
Posted On: 01/03/2017 10:10:53 PM
Post# of 3333
RSI.. Consolidation? I dont this so (yet)..
Investors on the other board are suggesting a consolidation period so that the RSI can reset. Sounds good; personally, i dont agree yet.
Obviously, this is not investment advice. If you think there will be a consolidation period, pat yourself on the back and say, "Ohhh good job, you!"
Just because Joey68 says something doesnt mean its going to be accurate.
But suggesting a consolidation period based solely on the RSI approaching 100 is very basic at best.
I typically look for things such as negative divergence - comparing the trend line with the RSI. I dont see negative divergence in the chart. Both the RSI and the current trend line are moving higher.
If i saw the trend line continuing to climb and at the same time saw the RSI in a decline (yes, new investors that can happen), then i would feel comfortable suggesting consolidation.
From the data I have right in front of me, momentum has not slowed. I wouldnt be surprised if we closed either higher or flat tomorrow; followed by a flat trend into next week.
Of course, im always hesitant to post things like this because if i end up being 'wrong' then i get greeted by comments such as, "YOU WERE WRONG JOEY68! BEH!" and, "Youre always supposed to be right!". Or my favorite (if we close red), "Joey68! We closed red!!! Its all over! BEH!"... so dramatic.
Of course, with over 1,800 board views and only 9 posts, other's opinions dont hold much water after the fact because hindsight is always 20/20. I enjoy testing my skills by proposing ideas before the event actually occurs. Its the only way to hone skills.
Either way, i could care less if the price pulls back. Oscillators dont even work well when there is a strong trend (such as ICNB at the moment). One PR/SEC filing and we're double the price we're at right now.
Just to make this post longer and more boring, if you know my posts, you know i love consolidation periods. I love red days. We need red days in order for there to be green days.
My pre-hindsight fun prediction for tomorrow aka a pure guess:
-We close green @ .0179 to .0182
Not investment advice
Investors on the other board are suggesting a consolidation period so that the RSI can reset. Sounds good; personally, i dont agree yet.
Obviously, this is not investment advice. If you think there will be a consolidation period, pat yourself on the back and say, "Ohhh good job, you!"
Just because Joey68 says something doesnt mean its going to be accurate.
But suggesting a consolidation period based solely on the RSI approaching 100 is very basic at best.
I typically look for things such as negative divergence - comparing the trend line with the RSI. I dont see negative divergence in the chart. Both the RSI and the current trend line are moving higher.
If i saw the trend line continuing to climb and at the same time saw the RSI in a decline (yes, new investors that can happen), then i would feel comfortable suggesting consolidation.
From the data I have right in front of me, momentum has not slowed. I wouldnt be surprised if we closed either higher or flat tomorrow; followed by a flat trend into next week.
Of course, im always hesitant to post things like this because if i end up being 'wrong' then i get greeted by comments such as, "YOU WERE WRONG JOEY68! BEH!" and, "Youre always supposed to be right!". Or my favorite (if we close red), "Joey68! We closed red!!! Its all over! BEH!"... so dramatic.
Of course, with over 1,800 board views and only 9 posts, other's opinions dont hold much water after the fact because hindsight is always 20/20. I enjoy testing my skills by proposing ideas before the event actually occurs. Its the only way to hone skills.
Either way, i could care less if the price pulls back. Oscillators dont even work well when there is a strong trend (such as ICNB at the moment). One PR/SEC filing and we're double the price we're at right now.
Just to make this post longer and more boring, if you know my posts, you know i love consolidation periods. I love red days. We need red days in order for there to be green days.
My pre-hindsight fun prediction for tomorrow aka a pure guess:
-We close green @ .0179 to .0182
Not investment advice
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The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
http://investorshangout.com/Joeys-Investment-Board-91611/
Invite Only
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
Disclaimer:
As used herein, the terms "You" and "Your" shall mean you, individually, the reader, and each other party on whose behalf you may use the contained information at any time.
All references to "My", "I", and “The writer of the above post” shall refer to the creator of the username Joey68.
Do NOT invest unless you are prepared to sustain a total loss of the money you have invested plus any commission or other transaction charges.
There is a very high degree of risk involved in trading and investing. Past results are not indicative of future returns. I assume no responsibility for your trading and investment results. You should NOT rely on the information in the above post to make any decision or take any action.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are OPINION and NOT fact and are for entertainment purposes only. Do your own research and make your own decisions based on your own conclusions.
ALL OF MY STATEMENTS, including but not limited to, POSTS, MESSAGES, PRIVATE MESSAGES, and RESPONSES are NOT advice, and are NOT designed to substitute the expertise and judgment of a professional. It is your responsibility to seek investment advice during all stages of your investments. It is your responsibility to evaluate the accuracy, completeness and usefulness of the information in the above post.
I am NOT a professional.
I do NOT work for you.
My posts are NOT investment advice. I am not paid to post.
There is no correlation between the number of posts I write per day and your assumed success of a company.
It is NOT my responsibility to inform you of my own personal investment decisions.
It is NOT my responsibility to inform you when it is time for you to buy, hold, and/or sell a position.
I have no control over, and am not responsible for the actions of others who copy, store, edit, change, prepare any derivative work of or alter in any way any of the content provided in my posts.
Errors and Omissions expected. The writer of the above post accepts no liability or responsibility for any errors or omissions contained in the above post or contained within this Disclaimer.
The writer of the above post shall NOT accept any liability for the accuracy or completeness of the information contained in the above post, for any reliance placed by any person on the information contained in the above post, or for any damage or loss, however caused, in connection with the use or reliance on any information contained in the above post.
The above post may contain links to websites owned and operated by third parties. These links are provided for informational purposes only and are NOT endorsed by the writer of the above post. The writer of the above post has no control over the contents of any linked website and bears no responsibility for the accuracy, legality, or content of the external site or for that of subsequent links.
YOU ACCESS ALL LINKS ENTIRELY AT YOUR OWN RISK.
The writer of the above post makes no warranties or representations, express or implied about such linked websites, the third parties they are owned and operated by, or the information contained on these websites.
The writer of the above post accepts no liability for any damage or loss, however caused, in connection with the use of or reliance on any information, material, products, or services contained on or accessed through any such linked websites.
There is a VERY HIGH degree of RISK involved in trading and investing. Only invest what you can afford to lose.
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