Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Chuzzlewit who wrote (4795)	12/11/1997 7:50:00 AM
From: Thean	Read Replies (2) of 95453

<TA question> Paul, could it be that your call for TA being useless is a bit too rigid in scope? I'm one who thinks TA is useful because I use Stochastics, BB and some other TA tools to convince myself to get out of the drillers at their two tops before they slided big time (Jan and early Nov). Honestly FA comes into play a little but my decision was very heavily influenced by what I see on the chart pattern then. Now, if we take TA away because it is useless, what do you think can take its place in helping people make decision with some hard numbers? It was quite well established that in early Nov nobody was going to stand in front of a freight train and there was very little, if any, well connected analysts yelling to get out? It was only after the fact that people came out and gave all sorts of explanation. In short, IMO, the big decline, especially its depth, was not anticipated from all forms of analysis except TA. Please give me a good explanation here, and don't tell me TA is unverifiable mathematically (I don't want to get into that discussion and that is not the point I'm asking).

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