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Non-Tech : Claire's Stores (CLE) NYSE
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To: Brad Bolen who wrote (469)12/7/1997 2:00:00 AM
From: Chuzzlewit  Read Replies (1) of 619
 
Brad, what study do you know of that statistically validates any part of T/A? ARIMA models and spectral analysis fail to disclose any pricing memory, and typical "formations" such as "head and shoulders" and "cup and handle" have been repeatedly shown to be non-predictive. The only claims that I've seen in support of T/A use entirely anecdotal accounts to support their efficacy.

Regards,

Paul
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