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Strategies & Market Trends : Technical Analysis - Beginners

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To: MechanicalMethod who wrote (11477)	2/8/2001 8:24:23 PM
From: Michael Watkins	Read Replies (1) of 12039

Hmnn, I'm a little denser than I thought. Inefficiency = detecting buying and selling prior to it's occurrence. Efficiency = taking a market position based on perceived inefficiency. And I really hate that. ;) To my mind, you can't detect what hasn't happened. We can guess and hypothesize all we want, but its still gambling or guessing, albeit with some experience chucked in. So I figure the past, sometimes very recent past, is more important than anything, and after that its a question of managing the trade. Maybe you can help me understand where you are coming from by using an example? As an example, a stock makes a 'breakout' to a new high from congestion that's been building up for a while near a recent high. Where does the Efficient trader get in? get out? Or is it better to be Inefficient? Puzzled, Michael

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