Double top and double bottom is THE MOST unreliable formation and the laziest most worthless analysis in existance …but CNBC idiots like Guy “the dummy” Adami keep using it as a reason to buy or sell stocks…did you know that I BUY those so called double tops…stock hits a high, pulls back and breaks a new high…that’s a double top to them, but to me it’s the #1 buying area when I trade…80-85% of the time I profit with this formation…funny thing is when you study for a Series 7 exam “double top” is part of the test…Series 7 exams and exams required for licenses are way outdated..the information you need to study for is essentially worthless in terms of technical analysis…and all the options bullshit in these exams are worthless too..
Why do idiots at CNBC keep calling “double tops” and “double bottoms” when it works maybe 15%-20% of the time..I BUY that formation
About the Author: wavegenius
The secret of many top analysts and traders…(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted “Wavegenius” Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: Recent 19,500% gain in one month trading options, 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it’s run from just over 1000 to 2900+ that we’re seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he’s had Top 20 Charts of stocks that 90%-100% of the time were accurate…at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened…as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he’d walk in there and take away many subscribers and traffic from them…