Quiz! 'Spot the Trend' with Memnoch & Chums!
Started by BobBobson, 17th June 2019 12:31 in Talk & Chat

  1. #1 | 2120972
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    Default Quiz! 'Spot the Trend' with Memnoch & Chums!

    As everyone on this forum knows, Memnoch knows everything about everything.

    Being an expert in market technical analysis is just one of his great many superhuman abilities. So let's see if any you other mere mortals can...

    'Spot the Trend'

    SpotTheTrend.PNG

    Please feel free to pour derision and scorn on anyone who calls a trend that you disagree with.

    So go on folks (you too Memnoch)....What is the trend? Where is the price in this market going next?

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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    BobBobson
    Being an expert in market technical analysis is just one of his great many superhuman abilities.
    You're the one claiming to be the financial expert, not me.

    I'm the one claiming to know what "trend" means and it should be obvious from the context that I'm talking statistically, a subject in which I am expert.
    YOU LOST. AGAIN.

  3. #3 | 2120975
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    Can you?
    Attached Images Attached Images
    YOU LOST. AGAIN.

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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    The thing is Bob, I'm looking at a time frame of the magnitude you presented for your prediction, whereas you are extrapolating a relatively short blip. You can't reliably predict what's going to happen several years from now on the back of a few weeks or even months of data. What you're doing is the kind of thing newspapers prefix with the words "Studies show..." and I don't see any journalists running banks or managing the exchequer. The whole 'global warming' scam was predicated on exactly the same kind of micro-selection.

    Like I said, we'll know in five years whether you should have taken the bet but let me assure you, you were wise not to.
    YOU LOST. AGAIN.

  5. #5 | 2120978
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    Yes I can, but unfortunately for me, I got a couple of Bitcoin accounts cleared out (probs by rats within the exchanges) back in mid 2016 so I took what I had left out and turned my back on it for good.....if not for this nasty turn of events, I might just be able to retire now, in my early 40's.

    You however, clearly cannot spot a trend. I know that chart I posted looks exactly like gold, but it was actually Bitcoin through 2012 to early 2016......here is what happened next:

    BitcoinKaboom.PNG

    The orange box shows the area of the chart I posted above.......I would say your call was somewhat out, wouldn't you?

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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    BobBobson
    Yes I can, but unfortunately for me, I got a couple of Bitcoin accounts cleared out (probs by rats within the exchanges) back in mid 2016 so I took what I had left out and turned my back on it for good.....if not for this nasty turn of events, I might just be able to retire now, in my early 40's.

    You however, clearly cannot spot a trend. I know that chart I posted looks exactly like gold, but it was actually Bitcoin through 2012 to early 2016......here is what happened next:

    BitcoinKaboom.PNG

    The orange box shows the area of the chart I posted above.......I would say your call was somewhat out, wouldn't you?
    To be fair, it looks like you've actually proven chickenshit's point Bob.

  7. #7 | 2120981
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    Reg Perrin
    To be fair, it looks like you've actually proven chickenshit's point Bob.
    What by posting a chart that looks exactly like gold's current chart?

    Luring Memnoch into thinking it was actually gold's chart...

    Having him draw a big n00b downtrend on it, and then revealing the 4000% price increase that came right after the point where Memnoch called a downtrend?

    Stick to the Gruaniad Reg.

  8. #8 | 2120983
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    BobBobson
    What by posting a chart that looks exactly like gold's current chart?

    Luring Memnoch into thinking it was actually gold's chart...

    Having him draw a big n00b downtrend on it, and then revealing the 4000% price increase that came right after the point where Memnoch called a downtrend?

    Stick to the Gruaniad Reg.
    I'd love that to be the case, and I'm not pretending to know anything about what you're on about, and chickenshit's arrogance needs bringing down a peg, however, his point as far as I could see was that making a judgement from a small portion of data didn't provide accurate information. Withholding the bigger picture and conning him into reaching the wrong conclusion proves fuck all as far as I can see. Keep up the effort though, he'll put you on ignore once you get the better of him.

  9. #9 | 2120984
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    Reg Perrin
    I'd love that to be the case, and I'm not pretending to know anything about what you're on about, and chickenshit's arrogance needs bringing down a peg, however, his point as far as I could see was that making a judgement from a small portion of data didn't provide accurate information. Withholding the bigger picture and conning him into reaching the wrong conclusion proves fuck all as far as I can see. Keep up the effort though, he'll put you on ignore once you get the better of him.
    The point is this.

    To anyone who understands technical analysis of financial market charts.....

    .....both charts, the current gold chart on the Monthly time frame spanning from 2000 to 2019, and the snapshot of Bitcoin between 2012 and 2016, were/are monstrously bullish charts. A technical analyst looks at such a chart, and expects price to rise, perhaps dramatically so.

    Memnoch looks at it and thinks cos price is lower than it once was, means that it is in a downtrend.......

    .....but that is actually a good contrarian indicator. Despite Memnoch getting up in the pulpit and pontificating that gold is in a bear trend, he actually knows fk all about what he is talking about. Memnoch is the definition of Joe Public', and speak to Joe about gold right now, or Bitcoin in 2015, and Joe wasn't interested. Joe only becomes interested in markets and starts imparting his 'wisdom' on the asset class when Bitcoin, Gold, Oil, or whatever, is putting in new ATH's everyweek and probably close to topping out and putting in a brutal reversal leaving poor old Joe holding the bag.

    I will say again. If you want to buy something that is easily stored, easily fungible, and which isn't subject to counter party risk, and is also going to increase multiple times in value over the coming years.....then buy some gold.

  10. #10 | 2120985
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    Default Re: Quiz! 'Spot the Trend' with Memnoch & Chums!

    BobBobson
    The point is this.

    To anyone who understands technical analysis of financial market charts.....

    .....both charts, the current gold chart on the Monthly time frame spanning from 2000 to 2019, and the snapshot of Bitcoin between 2012 and 2016, were/are monstrously bullish charts. A technical analyst looks at such a chart, and expects price to rise, perhaps dramatically so.

    Memnoch looks at it and thinks cos price is lower than it once was, means that it is in a downtrend.......

    .....but that is actually a good contrarian indicator. Despite Memnoch getting up in the pulpit and pontificating that gold is in a bear trend, he actually knows fk all about what he is talking about. Memnoch is the definition of Joe Public', and speak to Joe about gold right now, or Bitcoin in 2015, and Joe wasn't interested. Joe only becomes interested in markets and starts imparting his 'wisdom' on the asset class when Bitcoin, Gold, Oil, or whatever, is putting in new ATH's everyweek and probably close to topping out and putting in a brutal reversal leaving poor old Joe holding the bag.

    I will say again. If you want to buy something that is easily stored, easily fungible, and which isn't subject to counter party risk, and is also going to increase multiple times in value over the coming years.....then buy some gold.
    Ok. Does Nescafé gold blend count?
    Liked by: Chris Mitchell


 


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