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Gold/Mining/Energy : Gold & Gold Stock Analysis

GLD 399.02

+0.1%

Dec 19 4:00 PM EST

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To: jrhana who wrote (13546)	5/2/2008 7:37:05 AM
From: TheSlowLane	Read Replies (3) of 29622

Hogwash! TA is just a tool not a crystal ball. It does not work 100% of the time nor should anyone expect it to do so. Back in November/December, I said the upside target for silver based on the chart was $21. This past weekend, a friend of mine sent me an e-mail about a stock that had him very excited. I looked at the chart and could see that it was already way overbought at over $2 a share. I sent him a note back saying if I was going to buy it I'd try to get it at $1.20. Two days later, it hit $1.20. I didn't know for sure that it would get there (and I did not place an order, I already have too many positions), but the chart indicated to me that $1.20 was a probable target on a pullback. Well, whatever...I doubt you will be convinced by my anecdotes and no doubt you can come up with any number of examples where TA did not work as expected, but I get the feeling that you're dismissing it without ever having used it yourself.

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