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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Perspective who wrote (32038)10/28/2000 5:33:00 PM
From: XBrit  Read Replies (2) of 436258
 
And yet I still can't convince the people around me that there's something to this whole TA thing

I haven't been all that convinced about TA in the past. Lots of studies a few years back showed that TA didn't work. But recent studies show it HAS started working in the last few years. And you and the talented Mr Alias are also doing a lot to change my views.

Intellectually it makes sense. When a market, particularly the Nasdaq, has totally lost touch with fundamentals, it's a basic human need to adopt SOME kind of framework to make sense of things. That's what gives rise to all religions, after all.

Even if TA is silly, if it's the only analytic framework available and enough people follow it, then it becomes self-fulfilling. I think that has become true the past couple of years.

By the same analysis, I'd predict that TA will once again STOP working when the market finally bottoms and fundamentals are once again relevant. Course that could be years away.
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