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Pastimes : Nasdaq Bottom?
QQQ 629.07+0.5%Oct 31 4:00 PM EDT
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To: Moominoid who wrote (42)12/31/2000 10:42:14 AM
From: GROUND ZERO™  Read Replies (1) of 73
 
Hi David,

I think the difficulty I find with most statistical analysis of market data is that once the market completes, say for example, a 10% downward correction then analysts might announce that the market has had an 'official' correction... the problem here is that a significant move has already been completed, therefore to wait for that kind of data to confirm a top may also mean the selling is also over... that would not be a time to initiate a short position... it's much like driving down the street looking through the rear view mirror..... personally, I've found that using chart patterns have been much more reliable than applying the generic standard deviations, or percentage moves, or analysis of price variance, or whatever else may be available for statistical market analysis.....IMHO

GZ
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