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To: zonder who wrote (297199)11/9/2004 2:29:07 PM
From: Michael Watkins  Read Replies (1) of 436258
 
> it IS "faith", with no proof nor logic, I hope you realize <

That statement is pure BS, I hope you realize.

There are many different methodologies which technical analysts employ, and some of them, in my judgement, are pure quackery.

But there is nothing magic about prices going up or prices going down, nothing radical about realizing that people feel pain as they lose money, the opposite as they gain.

You can detect points where pain effects more people; the mere fact that many consult charts helps to ensure this, ironically, since so many put stops at foolish places based on a chart pattern or trendline.

My analysis is based very simply off of price and volume, focussing on support and resistance and detection of consolidation patterns and emerging trends. Analysis is one component, managing entry and exit are the other half of the puzzle.

In the end, price itself *is a fundamental*.
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