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   Why Read Stock Charts?
  Reading a Stock Chart will give you a better understanding of the...
  Greek Crisis Enron Fraud - Charts vs. Analysts
  Credit Crisis Infamous Internet Bubble
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Rob Perrego

Who is Robert Perrego?

When WorldCo's Wall Street traders needed to know how to read a stock chart, they went to Robert Perrego.

Robert Perrego was a Managing Director and a Proprietary Equity Trader at WorldCo LLC for five years. Using Technical Analysis and Chart Reading techniques, Robert profitably traded over 100 million shares of stock worth billions of dollars for his personal account.

Robert delivered weekly lectures on Technical Analysis for WorldCo's other traders. The tapes of these lectures became required viewing for all new traders at the firm. These videos inspired the creation of the educational package now being sold at StockTradingCards.com.

Robert's Full Bio

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The Credit Crisis - Looking at the Chart
     

The Dow Jones Industrial Average went into high gear in July of 2006 and started a strong uptrend. People were flipping condo's and the homeowners on paper housing wealth and profits coming out of the housing price run-up fueled a booming economy.

On August 16, 2007 the Dow closed at 12,681 which was a drop of almost 6% from just four days before as concerns about Countrywide Financial spread through the market. The Federal Reserve responded on the 17th with a 50 basis point cut in the discount rate. The Dow went on to regain its uptrend line and then up to trade an all time high of 14,198 in October.

Countrywide turned out to be the canary in the coal mine as large hedge funds at Bear Stearns collapsed months later and then the investment bank itself. At point 'C' on the chart below, December 12, 2007, the Dow climbed back to its extended uptrend line but did not regain it. This inability to regain the uptrend line was a strong signal the market was giving that the party was over. If you knew how to read a chart you would have known it was time to lighten up on stocks in the 13,700 area. This ability to read a Stock Chart could have saved you a LOT of money, as the Dow eventually plunged to 6,469.95 on March 6, 2009.

 
credit crisis stock chart
 
 
Did you listen to the analysts telling you how cheap stocks were getting according to their P/E's as the market continued to drop thousands of points? Did you buy more and lose even more money?
 
Or did you know how to read a Stock Chart and realize that the party was over?
 

 

 

 

 
 

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