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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: re3 who wrote (19786)10/12/2004 10:21:32 PM
From: ild  Read Replies (1) of 110194
 
Date: Tue Oct 12 2004 15:31
trotsky (P.Yorkie, 8:31) ID#248269:
Copyright © 2002 trotsky/Kitco Inc. All rights reserved
you're obviously not current. first of all, an academic study proving the statistical relevance of the most common chart formations used in t/a for their predictive value has in the meantime been done , and secondly, the previous widely accepted academic 'random walk' theory, a.k.a. 'efficient market hypothesis' has by now been thoroughly debunked ( accepted only in academic circles of course - it has always been useless in real life ) .
of course, experienced traders have always laughed at it, as has Mr. Buffett i presume.
this is because traders KNOW it works, with or without academic imprimatur. if that were not true it wouldn't be possible for consistently successful technical traders to exist - but they DO most assuredly exist.
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