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Strategies & Market Trends : MDA - Market Direction Analysis

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To: bobby beara who wrote (28922)	10/9/1999 12:54:00 PM
From: HairBall	Read Replies (1) of 99985

bobby beara: while manipulation may be possible in thinly traded markets, i believe manipulation is highly overated in the broader market, i think chart patterns fail because so many recognize the pattern and set themselves up for the expected event and when that event doesn't happen the pattern fails and people are trapped in the wrong direction. Well, Richard Ney use to point out on a daily basis manipulation in the Dow Industrial Issues. That is how he convinced me...<g> But I will not try to change anyone's mind. We will just have to agree to disagree. As far as chart patterns are concerned, I think many folks misread patterns and do not know which ones are reliable enough to bet on. I could go on with what is wrong with traditional chart patten reading, but I do not have the time nor the inclination today...<g> However, I will say as stated in my previous post on this subject, I do not believe there is any single technical analysis tool or technique that can stand alone. Good trading.... Regards, LG

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