>Now Joel,
The lady asked me a fundamental question... I had to give a fundamental answer. I coulda dazzled her
with the BS... but she would have seen though that... just like you do.
That fundamental data is priced right into the charts... the big boys know how many are in AOL ranks...
So why does a little guy like me have to sort it out when it is already in the charts??? I am not against
fundamental data... I just don't believe you need to pay attention to it... the charts will!
Regards,
Bill<
Okay. But this is my question, although I am not sure I can express it properly. The fundamental data, which consists of all news, is supposedly embedded in the charts. But, aren't the charts embedded in the charts as well? By that, I mean that, before you could exploit the latest "formation", the anticipation of its occurrence would have already been acted on. Why would people way 'til the last dot or has mark was put in place on that formation before storming the gates of profit opportunity. Isn't it all about getting the edge, which means acting on the "formation" before the last dot has been put in place? But, if enough people are doing that, excess profit opportunities are eliminated. That is the way, after all, markets are supposed to work. Now, I think both you and I know they don't work that way, by why would money be left on the table for technicians and not fundamentalists? After all, isn't deciphering innumerable news stories more complicated than looking at a single (or small multiple) charts?
Finally, did or did not John Murphy look like an idiot on his Iomega rantings? |
