September 25, 2007
Breakfast of Champion Trend Followers
Here’s a look at wheat — the daily chart for 2007. Once price got above the 500-550 range, it has really shot up. Jimmy Rogers might not like to jump on a moving bus, and there is the sign of exhaustion, but the trend is still your friend here (until it isn’t).
Cat: | Time: 12:09 pm (utc+8)
September 25th, 2007 at 9:00 pm
demark indicator on there?
September 25th, 2007 at 9:51 pm
pete: Yep, the old Sequential, the only Demark thing I ever look at … it’s the only “trend exhaustion” indicator that I know of … probably works about as well as most technical indicators (flip a coin), but I get mesmerized by those little red and green numbers, lol.
September 26th, 2007 at 1:57 am
stephen vita’s site he works w/ those. like his quote regarding paul tudor jones taking failed demark signals to press the gas pedal.
September 26th, 2007 at 7:48 am
pete: I noticed Vita uses the Sequential by skimming his site long ago (since he went to the subscription model I’ve never visited) — the dashed purple line is the “stop loss” level and when price closes beyond it that’s often a pretty good sign of trend continuation.