Claire's Stores (CLE) NYSE Message Board

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Non-Tech : Claire's Stores (CLE) NYSE

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To: jason D. who wrote (375)	8/2/1997 3:42:00 PM
From: Chuzzlewit	of 619

Jason, what was specious about my argument? I said, and I will say again, there is not a single statistically significant study demonstrating the efficacy of TA. All of the evidence in favor of TA is anecdotal, and not amenable to any kind of rigorous analysis. Your use of ad hominums to describe the those who undertook the studies as "... conducted by failed traders turned academe who were anxious to prove to themselves their inept investment performance was not the result of personal inadequacy" is beneath discussion. You simply have no idea who you are talking about. As for the rest of your argument, it is simply lacking substance. It is just one more anecdotal account (your personal results), and a dubious allusion to authority ("power traders"). The proof that TA works is not to be found in your remarkable trading skills, no more than the proof that arthritis can be cured by wearing a copper bracelet is to be found in old-wives tails about its efficacy. If the technique is valid, it should be statistically demonstrable, and if it were, I'd be first in line to start using it. But the simple fact is that all of the studies point in the opposit direction. Regards, Paul

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