Incidentally, your note brings to mind some passages in Celsus' "The True Doctrine on the Market," which he wrote around 130 CE. His work was a critique of emerging technical analysis, which was still in its infancy at the time. (It's not the only TA still in its infancy, I might add. The statement, "The CSCO chart is still bunching," comes curiously to mind.)
Have you emerged from under the covers yet, and are you receiving mail? If so, here's Celsus on market prognosticators:
"Market forecasters, it is needless to say, utterly detest each other. They slander each other constantly with the vilest forms of abuse, and cannot come to any sort of agreement in their teaching."
And:
"At the start of their movement, stock market forecasters were very few in number, and unified in purpose. Since that time, they have spread all around and number in the thousands. It is not surprising, therefore, that there are divisions among them -- factions of all sorts, each wanting to have its own territory. Nor is it surprising that as these divisions have become so numerous, the various parties have taken to condemning each other, so that today they have only one thing, if that, in common -- the name 'analysts.' But despite them clinging proudly to their name, in most other respects they are at odds."
Since you've read this far, here's a snapshot of your esteemed guru, the Colossus, one of the Seven Wonders of TA, striding out into the market's calm seas, prepared to shake off the wretched, vile, contemptible "ankle biters."
ce.eng.usf.edu |
