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Old 04-27-2010, 03:49 PM   #31
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As a self described agnostic

I have no problem altering my opinion is there is new information that is credible.

Will physics (real world) ever validate what we now call faith-based opinions?

When I was in the camp of faith-based believers I believed it was just a matter of time before this would happen.


Is this the missing link for 'faith based' believers?

Noah's Ark Been Found on Turkish Mountaintop
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Old 04-27-2010, 03:54 PM   #32
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Here is a projection by someone what the market might do if it declines from this area. Enough traders work these areas that it's wise to pay attention to them. This was assuming it was going to turn at the 50 level just like the Great Depression. And for a few weeks - he looked like he was right. Now we are near the 61.8 level (1225 ish) - usually the last level to defeat. Of course, it doesn't always play out this way...

Obviously, a lot of sellers were waiting at the 61.8 retrace - as we have reversed way down today. Will this be a new trend south? Perhaps. But it was a safe assumption there would be significant resistance here. I also find it a bit funny how major news "just happens" to break during when prices touch these Fibonacci levels (as it did as the 50 level) - today it was the rating downgrades of Greece and Portugal.
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Old 04-27-2010, 03:56 PM   #33
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I remain skeptical....
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Old 04-27-2010, 04:07 PM   #34
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Why?

Do you doubt there was the person called Noah, a prophet of God?
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Old 04-27-2010, 04:19 PM   #35
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Why?

Do you doubt there was the person called Noah, a prophet of God?
I accept that Noah was a prophet, and there was some of great regional flood, but I take the story as historical-allegorical (which as more power to me, and does not make it less "true"). It's about God's justice as well as mercy and His ongoing relationship with mankind. Finding a boat can neither add or detract to the meaning of the story for me.
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Old 04-27-2010, 04:23 PM   #36
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I accept that Noah was a prophet, and there was some of great regional flood,

So is he existed, and he was a prophet, and there was a flood

then you believe there was an Ark or vessel (ship of some kind) ? correct?
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Old 04-27-2010, 04:47 PM   #37
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So is he existed, and he was a prophet, and there was a flood

then you believe there was an Ark or vessel (ship of some kind) ? correct?

Sure (takes the bait).
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Old 04-27-2010, 05:00 PM   #38
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what is so hard about answering a simple question?

I think a lot of believers have modified how much of the Bible stories are accurate, or extrapolations based on some events and persons

looking at stories about George Washington, that he threw a coin across a river or chopped down a cherry tree, well these are made up stories with a recent real historical figure, does that mean he never existed?

reasonable modifications about what could be real people from thousands of years ago, sure, why not?
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Old 04-27-2010, 05:57 PM   #39
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Obviously, a lot of sellers were waiting at the 61.8 retrace - as we have reversed way down today. Will this be a new trend south? Perhaps. But it was a safe assumption there would be significant resistance here. I also find it a bit funny how major news "just happens" to break during when prices touch these Fibonacci levels (as it did as the 50 level) - today it was the rating downgrades of Greece and Portugal.
Saturn opposed Uranus yesterday.
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Old 04-27-2010, 06:29 PM   #40
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Saturn opposed Uranus yesterday.
You have to admit, though, it's pretty cool how these levels do trigger action. A 200 point drop in the DOW is noticeable.
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Old 05-06-2010, 06:09 PM   #41
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Many times the markets retrace (pull back and reverse) around the key Fibonacci levels (38.2%, 50%, 61.8%). Usually the 61.8% is the "last chance" to keep a trend going. Right now, we are almost at the 61.8 level from the big move down. If it moves much higher than we are now, then there is a good chance the market won't resume the move lower that started in late 2007. However, if the market stalls and declines from here, it may repeat the market moves of the early 1930's - which mean much, much lower (below the prior low of 666).

Pretty big sell off since that 61.8 number was hit. Crazy.
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Old 05-06-2010, 07:05 PM   #42
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When did it hit 61.8? And what's the range based on others using different underlying reference points? You said it would vary by a few points.
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Old 05-06-2010, 10:03 PM   #43
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When did it hit 61.8? And what's the range based on others using different underlying reference points? You said it would vary by a few points.
It was around 1220 for the S&P 500. That is about as high as it went at the end of April before the selling started sometime last week. The range is about 5 to 10 points (depending if you are starting from the close or market high/low). You can't usually get the actual "point" of reversal - more like a "zone." Needles to say, I certainly wasn't buying anything as we approached that level. Now, we'll have to see if this is a correction or the final, brutal wave to oblivion.
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Old 05-06-2010, 10:14 PM   #44
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Here's today's chart...

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Old 05-06-2010, 11:13 PM   #45
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Needles to say, I certainly wasn't buying anything as we approached that level.
Did you get any -1000 action?
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