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Politics : Welcome to Slider's Dugout
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From: SliderOnTheBlack9/27/2007 7:26:39 AM
  Read Replies (3) of 50628
 
7 words that will either make you very rich, or... very poor.


Would you like to know the dirty little secret
about "technical analysis" that the CEO of every
major brokerage company, every hedge fund and
every single major investment bank knows?

It's the reason Smith Barney fired Louise Yamada and
her entire technical analysis staff in early 2005.

It's the same reason Prudential eliminated Ralph
Acampora and their entire TA department

And it's the reason there isn't a single hedge fund,
or mutual fund, that has ever been successfully operated
for any period of time, based soley on a TA system.

Never has been one...and never will be one - period.

Do you know why?

Because chartists and technicians are approaching the
entire question -- bassackwards.

Charts do not predict the future behavior of markets.

They do something far more valuable!

They show us the past behavior of people.

And why is that so important you ask?

Because...

"Markets always change, but people never do."

Stop.

Go back and read that sentence one more time.

Now write it down on a post it note and tape it
to your monitor screen, because it just may be the
most valuable seven words of your entire trading careeer.

Tonight, I'll introduce you to "The Chart part deux."
And we'll toss aside angels, magnets and other mysterious
forces of technical chart divination and look at what really
matters for the price and direction of gold stocks...

Human behavior and the fundamentals.

Till then,

SOTB

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