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Technology Stocks : PairGain Technologies
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To: Doug R who wrote (34814)11/21/1999 9:16:00 PM
From: DWCraig  Read Replies (1) of 36349
 
Doug R:

I've drawn the IL and ACT lines to your specifications and posted them (temporarily) here:

boradive.com

boradive.com

According to one of your recent posts, these trend lines depict the "intrinsic supply/demand dynamic for PAIR relative to the human tendencies toward greed and fear." I'm not sure I follow. Any well-defined trend line could be said to mark a zone of strife between buyers and sellers, an area where emotions run high. Why are these lines special? Honestly, I think the IL and the ACT seem a bit arbitrary. For example, why not draw the ACT from the August 10th low to the September 10th high, and how did you choose the one set of points over the other?

Looking at the more recent chart, which I hope I've correctly depicted, I don't see how you can determine an accurate price projection for a given time based on the huge price range. The range of $12 to $80+ captured by the IL and ACT provides for huge standard deviations and correspondingly low confidence levels. Your ability to paint a 1% error within this broad spectrum is impressive.

Using your experience with TA coupled with the IL/ACT/RR system, can you provide a sample chart? Would it resemble either a price/time or a P&F chart? I'm having trouble visualizing this technique. Perhaps your method can shed light on an area of TA that I've neglected.

Thanks for your posts. Very interesting.
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