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Technology Stocks : THQ,Inc. (THQI)

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To: AreWeThereYet who wrote (3071)	1/15/1998 6:51:00 PM
From: Christopher	Read Replies (2) of 14266

Some thoughts from Dr. Elders. I know that Dr. Elders has been quoted on several occasions by members on this thread. The following quotes are taken from his book "Trading for Living". The paragraph below is taken from page 120 the second and third paragraphs. Please note that when Dr. Elders talks about "market are moving" he is referring to trending markets and when he talks about "flat markets" he is talking about trading ranges. He refer to oscillators and I called them momentums in my previous memo. Here it is: A serious trader needs to know which indicators work best under different conditions. Before you use any indicator, you must understand what it measures and how it works. Only then can you have confidence in its signals. Professionals divide indicators into three groups: trend-following indicators, osciallors, and miscellaneous. Trend-following indicators work best when markets are moving(trending) but give bad and dangerous signals when the markets are flat(trending range). Oscillators catch turning points in flat markets but give premature and dangerous signal when the markets begin to trend. According to the above paragraph, MA will give a bad and dangerous signal about THQ since it is in a tranding range. On page 142 he talks about momentums or oscillators and how professionals use them against amateurs. He does not use the word amateurs in his paragraph but instead he uses the word crowd. Here it is: Oscillators identify the emotional extremes of market crowds. They allow you to find unsustainable levels of optimism and pessimism. Professionals tend to fade those extremes. They bet against them, for a return to normalcy. When the market rises and the crowd gets up on its hind legs and roars from the greed, professionals sell short. They buy when the market falls and the crowd howls in fear. Oscillators help them to time those trades. Hey emmo, with oscillators you won't miss the trees!! I use them all the time and they certainly work.

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