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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)
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To: Fred Weiss who wrote (353)9/22/1997 12:49:00 AM
From: butter   of 2241
 
Fred, I agree with what you are saying. I just like to add that in today's manipulated markets, market makers understand the support and resistence levels all to well. They know that there is a lot of TA traders waiting to buy at these support levels so they take them out knowing that it will create some panic selling. ASND comes to mind as the latest victim of this.

When the herd begins to take on TA as a new way to create wealth, market makers will be there to exploit it to their advantage.

I would encourage you to understand TA as one of many tools you have available to you but I wouldn't totally rely on this method as a cure-all for all your trading woes.

Remember, TA is as only good as the person interpreting it.

good luck,
butter
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