The Phaserl


Sloping Trendlines

from Dan Norcini:

I have been asked this question by some readers and wanted to tackle it here. Many have noticed that I do not often use down-sloping or up-sloping trendlines in my analysis and wonder why.

In the earlier days of my trading career, I relied on them rather heavily. However, the longer I ply my profession it seems to me that their value has decreased considerably. I chalk this up to the changing nature of computerized trading. That is another lesson in and of itself but suffice it to say for now that the vast majority of hedge funds do not “think” when issuing buy or sell orders – they REACT, more specifically, their computers react. This buying or selling comes en masse – there is not the least bit of finesse or skill involved with it. It is more akin to a wall of money slamming into a market and brutally shoving it higher or dropping it lower.

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