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Technology Stocks : Ascend Communications (ASND)

ASND 196.81

-4.9%

3:59 PM EST

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To: KellyW who wrote (13212)	9/17/1997 1:57:00 PM
From: sepku	of 61433

>>>TA is just as sad. How can technical history predict the market?<<< Because technical analysis is mass market psychology. The markets are driven by one of two emotions: fear and greed. If you understand technical analysis, and you understand how crowd behavior moves the markets, you can get an indication on what will happen in the next few trading days. I personally find TA to be most effective for day trading -- in a single trading day's time frame. And in day trading skillful timing is essential to long term success in the profession, or you will wash out broken and beaten by the market. Of course you don't give a loaded gun to a 12-yr-old. So don't use TA unless you have studied it well, applied it successfully, and are experienced. Try reading A.Elder's book: Trading for a Living, and learn how crowd psychology is perhaps the greatest factor that moves the markets. Style Pts.

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