Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 260.25

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11:00 AM EST

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To: Big Bucks who wrote (14767)	1/17/1998 5:44:00 PM
From: Jacob Snyder	Read Replies (1) of 70976

Re: playing against the house: From "TA Explained", by Pring: Human nature remains more or less constant and tends to react to similar situations in consistent ways. Technical analysis therefore is based on the assumption that people will continue to make the same mistakes they have made in the past......different groups of investors are consistent in their actions at major market turning points. For example, insiders (key employees or major stockholders of a company) and NYSE members as a group have a tendency to be correct at market turning points.........Conversely, advisory services as a group are often wrong at market turning points........the consensus or majority opinion is normally wrong at market turning points.

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