This turns out quite different. But there is no perfect answer. When 2 things both are sensical, yet yield different results, you could either keep an eye on both or discard both.
The short squeeze website posts short interest from 15 days before - this is the same data that NASDAQ releases every fortnight. On the shortsqueeze page, check the record date - you will see what I am saying.
As to a perfect solution probably one does not exist, however at the same time this fib fan series lining up with the October and March lows the way it does is significant in my opinion. As to whether the drawing method is "cooked" to yield a certain result let me ask what would be the justification for ignoring the 2007 higher high? No "textbook" method I could find as an online example does that...
http://screencast.com/t/3k4eCjqbQsy
Still, if we want to allow each method to co-exist on a long term chart I'd be OK with that but discounting or discarding the method employing the 2007 high would be akin to shoving one's head in the sand.
Ed, it;s not really shoving one's head in the sand, its a simple matter of limited time balanced with the need to pick tickers and plans of action. There are only so many indicators that any person or group of persons can watch. I think your Fib Fan actually supported today's bounce.
Steve,
ReplyDeleteRe: JPM short squeeze data:
The short squeeze website posts short interest from 15 days before - this is the same data that NASDAQ releases every fortnight. On the shortsqueeze page, check the record date - you will see what I am saying.
Ticker Street
ReplyDeleteThanks for that clarification. Anywhere to get more up to date data without paying an arm and a leg?
Steve,
ReplyDelete"discard", really are you kidding?
http://screencast.com/t/0IeqNJHGeT
As to a perfect solution probably one does not exist, however at the same time this fib fan series lining up with the October and March lows the way it does is significant in my opinion. As to whether the drawing method is "cooked" to yield a certain result let me ask what would be the justification for ignoring the 2007 higher high? No "textbook" method I could find as an online example does that...
http://screencast.com/t/3k4eCjqbQsy
Still, if we want to allow each method to co-exist on a long term chart I'd be OK with that but discounting or discarding the method employing the 2007 high would be akin to shoving one's head in the sand.
Ed
Ed, it;s not really shoving one's head in the sand, its a simple matter of limited time balanced with the need to pick tickers and plans of action. There are only so many indicators that any person or group of persons can watch. I think your Fib Fan actually supported today's bounce.
ReplyDeleteOK Steve - not looking to bang heads.
ReplyDeleteMake sure you have your top at 1576.09 (10/1/2007 on a monthly chart) - not sure that it is...
http://screencast.com/t/lMGWAP5gib7