“I’m going to make a $1.95 million bet.
“You see, over the next few minutes, I’m going to show you a simple pattern I believe will allow you to achieve two incredible feats…
“You could capture a series of 164.68% windfalls, and…
“You will, with 100% certainty, only buy stocks that are going up.
“At its core, all you have to do is just grab regular, ‘boring’ shares of stock when you see this X…
“And sell them when you see it again.”
That’s the lead-in to the pitch for Money Morning’s “X-Pattern” trading idea — Keith Fitz-Gerald says he has found a “simple pattern” that will let you capture a series of windfalls and “with 100% certainty” only buy stocks that are going up. Pretty strong words. And he’s using them to sell a trading service that he calls High Velocity Profits.
And I’m not going to explain the X-pattern in detail for you here — I’m not a chart-trading expert, it looks like he’s using (at least in part) something called the Aroon indicator, which is a trend indicator that you can see described here or here,it basically measures the days since a high (or low) price was hit and gives buy (or sell) indicators when the “days since a high” indicator crosses over (or under) the “days since a low” indicator.
If you see “AROON 25” it means they’re using 25 days as the timeframe — so a stock would be at 100 on that indicator if it just hit a 25-day high (or low) price, or at 0 if it has been below the 25-day high (or above the low) for 25 days. For a lot of stocks, these lines will cross frequently — for some that are consistently rising or falling, they might not cross in a year or more.
Trend-following has certainly led to lots of huge gains over the years, particularly for those who can buy on the way up and sell after it starts to go down and do so consistently over time, and there are hundreds of indicators and strategies that trend-following chartists use, and variations on all of them (what time period you use, what but it’s far from being my strength or area of interest. I don’t know whether the AROON indicator (or oscillator, which visualizes the data differently) will work better than any other charting indicators at measuring the strength or direction of a trend.
So why do I mention it today? Because today I saw an ad from Keith Fitz-Gerald that said he just had a new indicator triggered last week, a new “X-pattern” on a stock that you should buy. So that I can sniff out for you, and we therefore get an actual stock to talk about and, for those who want to test this “X-pattern”, an example to consider.
Here’s how he put it in the email:
“Below is a stock chart for a company based out of Rochester, NY.
“As you can see, over the past few weeks it has fluctuated wildly.
“However, I believe I know exactly where this stock is going next – and that you can make a whole lot of money from it.
“In fact, I’m so confident that I’m putting $1.95 million on the line.
“You may think I’m crazy for doing this.
“But I’m not. You see, my team has spent the last six months investigating a single pattern that has been appearing alongside two to three stocks a month… every month… going all the way back to the bursting of the dot-com bubble, through the recession, all the way up to today.
“And it was spotted with the company in this chart.
“This same pattern has been detected with some of the market’s most exceptional windfalls, like 7,476% on Monster Beverage, 2,941% on Terra Nitrogen, 2,566% on Kingold Jewelry, and 1,478% on Radcom.”
I didn’t copy the chart, but I did check it to confirm — the stock he’s talking about here is Paychex (PAYX). The stock chart is an exact match, and it is a Rochester company. The AROON indicator for PAYX may have crossed on the bullish side over the last couple days, but if so that would mean you’re using a very short-term version of the indicator (like 15 days or so) — and if that’s what you’re using, then the up/down “X” of the crossing indicator would have happened a dozen times or so in the last six months. If you’re using a longer-term AROON indicator, like 25 days (which most of the chart systems default to) or longer, then PAYX has been in a positive trend on AROON for a month or more after doing a bit of back-and-forth crossover in January and early February.
So what does that mean? I have no idea. PAYX is at a 10-year high — so it doesn’t take a wizard to note that the trend is positive, but it might take an expert technical trader to get you in and out of bumps up and down over the next couple years. PAYX is, like its larger rival ADP, quite expensive and priced at a stiff premium to its growth rate. This is an HR outsourcing company, in case the name is new to you — they handle benefits outsourcing, HR, and payroll processing, particularly for small to midsize businesses who might not have big HR/Personnel departments. What will drive PAYX is the same thing that will drive ADP, broadly speaking: Employment and job creation, labor-law complexity, and short-term interest rates.
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To simplify: If employment rises, they’ll collect more fee income for running payroll for their customers… if it becomes more complicated to deal with payroll laws and regulations (as with health insurance handling and tax law), they’ll get more new customers who want to outsource some of that headache… and if short-term interest rates rise, they’ll earn much more money on the brief window of “float” that they get to hold during the paycheck-generating process. (Like ADP, they collect money from the employer a day or two before it’s actually sent to the account of the employee or printed on a check, and earn some return on that money — or at least they did, when there was any money to be earned on very-short-term interest rates… even with low rates, though, that fund is more valuable than it might seem, because, like Warren Buffett’s famed insurance float, it refills itself every day with new employer money even as it disburses itself to the employees so you can, if you wish, consider it more of a steady asset to earn on than a liability to pay out. Like a dammed pond — it lets water out through the sluice every day and new water comes in every day, but the pond’s depth usually is pretty reliably within an expected range).
So with employment trends certainly improving (more people working), and with short-term interest rates widely expected to rise, there’s quite a bit of optimism baked into PAYX. Maybe that’s as it should be, I can’t claim to have have researched the company thoroughly — the twice-as-big ADP is similarly valued at about 30 times earnings (and is at all-time highs), but PAYX is generally more profitable (it’s a less complex company, they don’t offer as many different services even though both are huge in payroll processing)… and both are expected to grow earnings at a 8-10% annual clip, which is phenomenal for a $20-40 billion company but not that exciting for a company valued at 30 times earnings. They’re also both being bought as “dividend growth” stocks — PAYX has the somewhat higher yield (3% versus 2.25%) and the less-perfect record of dividend growth (PAYX has paused their growth a few times and is a younger company, ADP has raised the dividend every year for 40 years now).
And yes, Paychex (PAYX) and ADP (ADP) have been generally stronger bets for far longer than the “upstart” HR outsourcing/payroll companies that have come public more recently, particularly those who use the word “cloud” in every other paragraph like Paycom (PAYC) and Workday (WDAY). I don’t know if that will continue or not, but so far investors have generally been better-rewarded by the established firms that are actually profitable.
We’ll open the week with that — what do you think? Is PAYX a buy either because it’s in a strong and positive trend or because you like the business? Have any interest in or expertise with the AROON indicator or other charting tools Fitz-Gerald might be using to identify his “X-Pattern” stocks? Let us know with a comment below…
(Our readers had some discussion of this “X-Pattern” a few weeks ago when it was first touted by Money Map, so I’ve appended that discussion they had to the end of this article to get you started. Enjoy!)
F-Score can easily be determined using the site http://www.Portfolio123.com/index.jsp?apc=StockMarketStudent
Agora Publishing is hawking Jim Richards Kissinger Cross Indicator.Is this simular to Aroon Indicator
Put AROON and F scores aside, what I seem to see them talking about is when the 50 day moving average crosses above the 200 day moving average, you buy, and when it crosses the other way you sell.
I’m one of those who got offered a $19 deal, However the only recommendations I had any luck with was SYKE. Bought 10/23, x pattern, price 28.82. I sold it 12/24 at 31.11 after peak of 32.13 on 12/8. at peak, 11% gain. CHLN was in the 5’s, dropped mysteriously one day to the threes and never recovered. NPTN bought 12/4 at 10.50, peak at 11.40 12/28, is that a “high velocity windfall”? First rec was EKSO, bought 10/12 at 1.15, peaked at 1.41.
So to be fair, he does specify “stocks about to go up”.
And Mr. Hyphenated-Name does show up on CNBC at times and speaks well.
However once you sign up for anything money Map Press, they hound you constantly with multiple specialists each touting each other’s products.
This may be unrelated to the X pattern, but I’ve found some other charts that have shown me consistent profits after much trial and error. If you have a test account and can plot the same charts here are my findings. This is strictly for day traders. I also trade commodities because of the consistent volatility. I tested on some bigger volume stock like AMZN, GOOG, APPL, and NFLX with much success as well. Remember that with volatility you can’t get greedy so take profits when you can. No one can ever guess the exact tops or bottoms of moves. I also like to trade between 7am-10:30am or between 1pm-3pm as these time frames give the most consistent moves. Other times could leave you sitting around or getting chopped out of trades.
The time frame is a 1 Day, 5 Minute chart.
1st – SMA (Simple Moving Average)
Plot 2 SMA lines. Both will be using (O+H+L+C)/4.
Set one SMA to length of 1, displace of 0. The second one set to length of 10, displace of 0.
2nd – DMI (Directional Movement Index)
Set the DI+ and DI- to Exponential with lengths of 9.
3rd – Stochastic Momentum Index (SMI)
Set overbought to 40 and oversold to -40.
Set percent d length to 2 and percent k length to 9.
How to use these charts together:
When the 1 period SMA crosses the 10 period SMA this triggers a buy signal. I use this signal at the same time as the DMI. You want the DI+ to also cross over the DI-. The DMI will usually cross before the SMA, but I don’t buy until I then see the SMA’s cross as well. I use the Stochastic just as a guide as to when a reversal may be coming. If you are in a buy trade the Stochastic will be moving above the 40 (overbought) line. The reversal may come once it starts to move back below the 40 line. You can sell here to lock in profits, but the true reversal won’t happen until the SMA 1 crosses below the SMA 10, as well as the DMI DI+ crossing below the DI-.
I’ve seen many times where the SMA’s converge, but then the trend continues back in the right direction. Holding this long though may cause you to loose a good amount of profit. I like to just lock my profits in and then be patient waiting for the next buy or sell signals.
Without screenshots it’s hard to illustrate all these points but hopefully you’ll be able to implement successfully. Good luck and I’d love to hear if anyone is getting the same positive results I am.
Scott-
I have read your aroon but I do not know how to set your 15,30 and 1 hour. Mines standard is aroon 25 as is in think and swim. I have read your 1day 5 minute chart and all those associated sma 1st, 2nd, 3rd with the overbought. Can you teach me?
Thanks, dee
Scott, all set I was able to figure it out!
Thanks,
Dee
Hi Dee,
My last post was unrelated to the Aroon Indicator, I just put it in this thread. Were you able to understand how to setup the SMA, Stochastic, and DMI charts in Think or Swim? If so, have you had a chance to test this yet?
what site do you use to set the chart up?
Hey Jarome. I use Think or Swim from TD Ameritrade. Which one are you using?
I am on E-trade. their charts do not have these settings as far as I can find.
Hey Jarome.
I’ll get on etrade later and see what they offer, as long as I can get in without depositing money.
Jarome. I looked real quick and it appears I have to open an account. If you go here: https://www.thinkorswim.com/t/trading.html I believe you can download the think or swim platform without an account so you can paper trade. I believe the account is good for 60days without you having to open an account with TDameritrade.
TDameritrade requires that you open account but you don’t need to fund it. Simply click on “fund later” during set-up. You will then be able to use the web based platform in real-time. Hope this helps .
etiquette requires you to share your solution.. otherwise don’t bother posting
Could you share a tos link so we could get a copy of your chart setup? Also re the aroon
do you use a “2 ” for length when the default is usually 25 or I’ve seen 14 in freestockcharts.com. That seem a very short time frame. How many signals would you get intraday?
Thanks for the posts.
Hello. Here’s a link to a screenshot of my setup in TOS. https://docs.google.com/document/d/1aAdR0iB54L7PbzuyIKOrKqupCmfQiY_-DGL2KrLdmHI/edit?usp=sharing.
I was further testing with some tighter trading so I changed the OHLC/4 of the SMA length 10 to 5, but left the other SMA at 1. I also move the DMI DI+ to 5 instead of 9. I was looking to gauge quicker entry and exit points. I traded this morning using this and traded the( /YM future Mini DJIA) and /CL (Light sweet crude oil) future. I bought when I saw the SMA and DMI lines cross. Make sure to wait for both to cross before buying. I sold both for a $190 profit, but it has since continued to go up because the SMA and DMI lines have not yet crossed to the downside. I also bought gold (/GC) at the same time and sold for a $440 profit and that is still going up. I’ve learned that any profit feels better then any loss so I don’t always wait for crosses to the downside before selling. I look forward to hearing your results. Scott
Thank you Scott for chasing this down for the Gummunity and including the charts. Best2You-Ben
Thanks Sogiam. Anything to help someone out and keep them from spending thousands on some GURU.
Hello Scott and thank you for cheating this information
What kind of settings should we use if trading with Indexes Etf’s ? You mentioned that those settings are only for day trading but what about options or Etf’s who take longer ? Do you have any idea that you could share ?
Thanks for sharing
Blanca
Sorry I meant sharing not cheating !!!!
Hey Blancs, I got ya.
I’m actually testing this strategy on 2 etf’s as per your request. I’ve never traded etf’s so I was curious to see if this would work and it appears to work the same way. As far as options I also don’t trade options and don’t know much about them so I’m not sure how this would apply. So for ETF’s, I picked 2, XLE and IYE. I just opened TDAmertrade and picked 2 randomly. Again, I know nothing about ETF’s. Shortly after market open I bought IYE at 33.42 and XLE at 59.43, because my indicators showed a buy signal. Current time 9:56am and IYE is at 33.55 and XLE at 59.76, so I would say yes this strategy works. ETF’s appear very volatile and I feel that this is important while day trading any stock, ETF’s, or futures. When it comes to stocks and as it appears with ETF’s I would normally not trade right at the open, but I did. Yet I would wait for a reversal in the trend. My previous note stated using a 5 min chart but I’ve also been testing using 30 min charts to reduce getting chopped out of trades. Sometimes price action is really choppy in 5 min charts so you might get in and out too fast. I would suggest to anyone, that you test multiple time frames. 2, 5, 15, 30, 1hr, 1day, 1 week, etc with any indicators you choose to use. Please let me know if these strategies work for you or not. Thanks.
Blancs or anyone else following the thread. I forgot to mention in all my posts that I also chart the previous day high, low and close points. As for futures, I also chart the current days high and low before I start trading so usually from 12am – 7am. This is because most futures are 24 hrs with the exception of Friday night to Sunday 6pm. You can see the charts here: https://docs.google.com/document/d/1rWJa0Nt_2x2_7nw7uZOmK9YzTcAZRfj0Gy8Y2pzXwII/edit?usp=sharing
The first chart is just the previous day high, low, close and the second adds the high and low of the current day from 12am-7am.
You’ll see that price action moves within these ranges. It’s not only enough to just use indicators to get in and out of trades, but also these levels. This is where trader psychology comes in. Most say trading is 100% psychological and I have to agree. You’ll notice in the chart from my trading today with /CL Light sweet crude oil futures how the price jumped once the close of the previous day was reached and then went to test and break the high of the previous day. The next 2, 30 minute bars show how the price then started to move back down below the close of the previous day. Then when it reached the low of the current day it bounced back up. Price action at these levels is never 100%, but they help you see where price action could go. If price action broke through a high or low then I would then look back on previous days to see where the next support or resistance levels would be. Ok, that’s my 2cents. Good luck.
Just out of curiosity. What type of risk manag mento are you using. Do you use a trailing stop or bracket trades? Please describe if you don’t mind. Always good to hear from other investors
Hey Brockafella. Sorry for the late response. I haven’t been around in awhile .
As far as risk management goes I would use a stop limit sell if I stepped away during a trade. I do this full time from home so I generally can just sit and watch during a trade. After being stopped out too many times early I know use multiple time frames which is probably overkill, but why not. I have one screen setup with 4 time frames 5, 15, 20, 30. Then I have another with 2…Just 5min and 1hr. (I’ll send a link to my screenshots so you can see). I’m always testing, but I stick with tight moving averages. OHLC4 (one SMA set to 1 and one to 4. The bigger the spread the less crossovers you’ll get, I just like to get quicker signals, but it can lead to getting out too early. I have been using the 1hr time frame and it’s saved me from getting out of trades way too early. I use CCI (14), Stochastic Momentum Index (SMI), and Macd Histogram. Here is a link to my trade today on Future /ZF (5yr US Treasury Note). https://docs.google.com/document/d/125_VhJxjDkq4PdEDnTDiLcmaazgeMihF5aIwpaGObdU/edit?usp=sharing
This is my 5min and 1 hr chart. I bought in the 7am hr for 121″020 this morning. As you can see at the 10am hr the price retested Support Level 1. On the 5min time frame I would’ve sold normally, but I stuck it out, then you can see how it rebounded. I unfortunately wussed out at 121’050 because the 5min chart crossed over. There was no reason to panic based on the 1hr chart and as you can see it hit a high of 121’117. The best advice I can give is use the Stochastics (with any timeframe) and don’t buy or sell until it’s either way oversold or way overbought. It’s never a perfect science but why start buying when it’s already overbought and vice versa. When it’s hovering between overbought or oversold you just never know where it’s gonna go. Hopefully this helps beyond the question.
Thanks for sharing your hard work, many people don’t share what works for them.
Can you please send a screen shot or a link so that I can see what the chart looks like, thanks
Hey Joseph. I just replied to Brockafella above. There is a link to my trade today with some other info. Let me know if you have any other questions.
Thank you so much, have a great weekend
I had a few minutes to look at the screen shots, unfortunately I can not make out any of the text, only the graph
Hi Scott, thanks for your willingness to help, are you able to copy the link of the way you set your chart as described in your message to Brockafella , TOS has a share option, if you can do that please send the link to yosberk@gmail.com Thank you
Sorry Scott, the link (not screen shot) that I want is from this message, when I try to enter your plot in my TOS “The time frame is a 1 Day, 5 Minute chart.
1st – SMA (Simple Moving Average)
Plot 2 SMA lines. Both will be using (O+H+L+C)/4.
Set one SMA to length of 1, displace of 0. The second one set to length of 10, displace of 0.
2nd – DMI (Directional Movement Index)
Set the DI+ and DI- to Exponential with lengths of 9.
3rd – Stochastic Momentum Index (SMI)
Set overbought to 40 and oversold to -40.
Set percent d length to 2 and percent k length to 9.
How to use these charts together:
When the 1 period SMA crosses the 10 period SMA this triggers a buy signal. I use this signal at the same time as the DMI. You want the DI+ to also cross over the DI-. The DMI will usually cross before the SMA, but I don’t buy until I then see the SMA’s cross as well. I use the Stochastic just as a guide as to when a reversal may be coming. If you are in a buy trade the Stochastic will be moving above the 40 (overbought) line. The reversal may come once it starts to move back below the 40 line. You can sell here to lock in profits, but the true reversal won’t happen until the SMA 1 crosses below the SMA 10, as well as the DMI DI+ crossing below the DI-.” I keep running in to problems.
Thank you
Going back in my notes, I tried High Velocity Profits under the “free-look, no-risk” deal last year at about this time. I got advised to enter into 4 trades from this “service,” and lost money on all 4 of them. All the pitches for this service make it sound like a SURE winner for everything you do, and if any system was that good, I’m thinking the originator would just keep the secret to himself and get fabulously wealthy without having to pitch anything.
I think Keith Fitz-Gerald (even that name sounds like a phony). He put a long, scary post out this week which is supposed to frighten senior citizens into buying his books. What a scam! If people want to know about SS changes, all they have to do is visit or call their SS agency. He should be ashamed of himself!
Since they have thousands of clients buying the suggested stocks ,my hat alone will draw attention to the stock moving up and it will create its own momentum …. So just sell before they recommend to maximize your gain.
Join their pump and dump , just dump before the sell recommendation is issued.
Video available on You tube link ( Do NOT pay 4 this service is my opinion-available for free 🙂 ) : How to Identify Stock Patterns with this Simple Trading Strategy https://www.youtube.com/watch?v=HOfnMufamAM&t=2796s Best2All-Ben
Take everything you read in Money Map Press with caution. Other commentators here have noted that seeing something early, getting in, and then telling others about it is a good way to make money. As well as all the inter-related “advice” services.
IMO, this is NOT a one-stop service for blindly taking on recommendations. The articles behind the recommendations do not spend enough time on the ‘risks’ involved in the recommended stocks, and are clearly not unbiased.
On the other hand, it’s an interesting list of stocks that MAY have a trend going (for all the reasons listed above). Take Keith’s list of “recommendations” only as suspects. YOUR job is to do your own fundamental and technical analysis, and ride a portion of that trend line using sites such as Modern Graham, GuruFocus, Finfiz, stock charts.com, and (for subscribers) VectorVest. Pay attention, and you could make money. $79 for a basic two year subscription is not unreasonable for getting 24 months of potential candidates.
Use your own technical analysis, and watch what you’re doing. Good luck!
I stumbled across the stockgumshoe.com website today after doing a search for more information about Keith Fitz-Gerald’s High Velocity video pitch – the url of which was obtained from an insert in the most recent Money Map reports my mother subscribes to via snail mail. Curious, I watched the video and learned that the signup cost for his program is $1,995 and only open to 1,000 subscribers – so his pitch claims. I did a search on the net, looking for reviews of his program and to determine if it is a scam. In a few short minutes I ran across a comment on one review site that said they paid more than 15X less and said they responded to the same video pitch found on youtube for the very same service! I looked it up on YT and sure enough, when you hit SUBSCRIBE, a web page comes up showing the price as $399 for the service with the promise that Keith will send you a $250 check in the mail, lowering the cost for a one-year subscription to the High Velocity service to $129, which incidentally also comes with the Money Map reports. Or, you can get the entire High Velocity service on a free 30 day trial with only a $19 subscription to the Money Map reports. Here is all I have to say. Whether or not Keith’s methodology is sound or the fact that he has appeared on major news networks is besides the point. How can someone, especially someone like him in the public eye, take advantage of people like this? Charging more than 15X AND – get this (!) – to a loyal, current paying subscriber of Money Map reports? What does this say about his ethics?
I agree with the inappropriateness of the up charge and hard sell. And this just for the weekly Aroom chart you can get for free on stockcharts.com and which in my opinion does not work nearly as well as the daily version of that indicator. Be aware that this indicator is only one of many that you should use in conjunction with each other. I hope that helps
The AROON indicator + F-score doesn’t work all the time unlike he claims.
SDRL : The AROON-100 indicator would make you loose money. Company has F-score of 4 though.
AAPL: The AROON-100 indicator would be a mied bag of wins and losses (overall I think a win) but with quite a few short-cycle trades. The MA-50/100 crossings would be a better indicator. That company has an F-score of like 8 I think and is known as a strong buy currently while AROON-100 and moving averages have not yet (Apr 7) crossed a buy signal.
There is just no certainty. Just tools to make you roll the dice thinking you know what you are doing. At best you’re counting cards and the dealer has an unknown number of decks shuffled in.
It looks like everyone is jumping on the band wagon, now Manny Backus is offering the same X-pattern for only 49.00 a year, it sounds like a bargain compared to the others.
I bought the Backus program, I haven’t used it yet I just got it and I’m reading up on it and trying to figure it out. And you are right, it was $49.I think it’s robbery for all these services to be charging $1495 to $1995 for all these new super new trading strategies that seem to come out every week now days, and every author from every service seems to have found the magic plan.
https://www.sec.gov/litigation/litreleases/2016/lr23645.htm
I’m beginning to think the organization is a bit of a fraud, and that they get paid to hype this or that. For instance, they were hyping the great “gold chip” revolution like it was the greatest thing since sliced bread, i.e. CPI Card Group (PMTS). The stock had already tumbled from it’s IPO to around $7.66 the other day, and then after they released earnings on Wednesday it tumbled to around $4. I’ve lost close to $10,000 in it now. I’m sure you can probably still find their big “gold chip” video circulating too.
I am sorry to hear that you are down 10.000. when I started trading I made the mistake of not deciding before the trade what my stop loss is, that mistake cost me 40K, I did recover and I never made that mistake again, I think we are hard wired not to take a loss, and that is one of the biggest dangers of trading, good luck I hope you recover your loss quickly.
Has anyone been successful with the Cash Clock by Tom Gentile. It really sounds great!
I know this has been a while but I have been using the Cash Clock and the weekly Cash Calendar from Tom Gentile. They have been somewhat profitable, but my problem is with the timing of the alerts. Many times I get the alerts and by the time I get them the prices he tells us to buy or sell has already moved over what he says is the recommended price. I know it must be hard trying to get the notices out to so many people, but by the time you get the alert then check for the email (which may or may not be there yet) then go to the website which may or may not have the trade posted the price may not be in the trade range or the sales price to get out can make the difference between a winning or losing trade. Overall though I have made money with both programs.
I can see trying a new look to be more clean and simple. Personally, however, I would like a possible blend of the new with the old…perhaps some light background color to differentiate the categories of information like the old site. Also, search capabilities and accuracy are one of the most important features of a site.
Search is definitely an area where we want to improve, though the search on the new site and the search on the old site are identical in content.
Kent Moor articles
Is his strategy accurate? Yes or No? I understand charging someone is such a low blow, but can i use this strategy?
I wouldn’t consider the Aroon indicator to be a strategy in itself — it’s a technical trading tool that some folks like, apparently including Fitz-Gerald. I don’t use it myself, I don’t know whether technical traders and chartists find it particularly useful or not (I almost never work with price charts, I use charts more to visualize valuations and trends for fundamental data)
There’s nothing wrong with charging someone for advice or for managing a trading strategy, though people tend to be grouchy if that advice doesn’t work anything like the ads say it will.
yet another
Inflection Point
tool sold with hype- and as hype.
Fitz-Gerald must have fallen on hard times – I got the teaser and looked at the video – when you go to close it, then reverts to a text version. Scrolled to the end – long and short – he’s selling it now for $149/year. (a gimmick of $399 and then send you a check for $250 – or he just sells it for $149)
Seems you can do that same by just using weekly charts and set the Aroon indicator of a period of 100. Did that in TOS – didn’t see any dramatic revaluations.
Actually, I’ve found that the weekly Aroon indicator on free StockCharts.com is a reasonably good confirming signal that an up (green over red) or down (red over green) move is occuring, or soon to occur. At least on the stocks I watch – perhaps 20 or so – this indicator has been in sync a good deal of the time …. I’d like to say about 75%, but I have not tracked it that accurately. More importantly, I have not seen it ‘fail’ – that is, give a green over red (up signal) and then watched the stock tank. When it ‘fails’ is when the stock continues to go sideways. But again, this is a WEEKLY indicator, so it may take a month or two for it to ‘kick in’. Go back and look for yourself. It’s a nice confirmation to something like a point-and-figure buy/sell signal (also on the free StockCharts.com in the Gallery view)
No reason to apologize Joel…Believe you said it best 🙂
Have a wonderful weekend and beyond ~ Ben