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Technology Stocks : PSFT - 1997 Outlook [closed thread]
PSFT 0.00010000.0%Oct 29 5:00 PM EST
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To: Melissa McAuliffe who wrote (804)1/28/1998 2:20:00 PM
From: Rick  Read Replies (2) of 940
 
Melissa -

You've taken a pretty safe position by suggesting that Fundamental analysis and Technical analysis used together is the best recipe for investing success.

In my opinion:

- using TA as a supplement to FA may increase returns marginally and at worst it is irrelevant

- using pure TA without regard to the underlying investment is a waste of time and money. Although in a bull market there will still be alot of people that swear by it, convincing themselves that there is some reason to their investing behavior. Human beings seem to have this great need to believe in mystical forces that can't be explained by observable reality.

Reminder:

Two days ago PSFT was at about 32 and your crystal ball suggested that the next day (yesterday) PSFT would likely be down. Yesterday, PSFT rose almost 4 points. Can you help me understand what went wrong with your Technical Analysis ? Perhaps this was merely the exception, and usually it works ?

I once saw an experiment with 3 respected Chartists asked to explain and predict the same chart - needless to say, 3 completely different interpretations and very comical.

Cheers. No offense to TA zealots.

Salman Rushdie.
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