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Non-Tech : Claire's Stores (CLE) NYSE
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To: Howard A. Morin who wrote (282)3/21/1997 11:31:00 PM
From: Carl Yee   of 619
 
Hi,

As I indicated, Howard, just learning some of this stuff and while I see your definition is correct, I don't think we should underestimate the fact that TA is to a large extent nothing but a chart's representation of the battle between bulls and bears.

Would you not agree that the responses of the fast and slow MA "curves" which make up a MACD chart are to a large extent moved by the cumulative actions ofthose who buy and sell the stock. If the fast line represents more current "opinion and actions" than the slow line which is more of the "historical opinion or trend", than one could say it is a summation of sentiment on that stock. Or at least, that is my take of what A. Elder says in his book, Trading for a Living.

Not looking to argue, just to learn. BTW, would you say CLE is at the start of a bullish move based on what we can see so far from the TA?

Carl
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