Is it Magic? | Move the Markets

Guest Post: Is it Magic?

Posted on May 31st, 2007
Written by Mr. White Folks
Posted in: N/A (old archives)

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

The Chairman highlighted CIEN today. Here is the PnF for Dummies setup. Is that 45 degree trendline magical or what? I cannot figure out what the significance can be behind this trendline on a stock that is running.

Comments

john

zoomie: lol
Zoomie

John, right....and where do the presents come from at Christmas? They just "appear?"
john

that makes more sense than magic
Richard

The only thing unique about the 45 degree line, is that it traces the path of the slowest possible trend. Not slowest in time, but slowest in terms of progress, where it just walks up one block at a time. So, when you get back to the 45 degree line, you are in a "make or break" situation on a trend. That's the best I got, right now. I know it's not much. Maybe more charts will be illuminating.

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