Bill Wexler's Profits of DOOM Message Board

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Strategies & Market Trends : Bill Wexler's Profits of DOOM

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To: Larry McColloch who wrote (229)	3/5/1998 10:55:00 AM
From: Jim Roof	Read Replies (2) of 4634

The kind of TA you talk about is mostly baloney. RSI, stochastics, Chaikin Oscillators, MACD and the like are really pretty poor for trading purposes. Just for the heck of it, find a stock that has done very well over a 2 year period using the 'buy and hold' approach and then plug the chart into a stock trading program. You will be amazed at how poorly these programs actually perform when you let them do the trading. Many of them will find ways to lose money on stocks that have decent gains and most all of the trading models will miss many opportunities. Almost all of them tend to get you in late and out late. Also, none of them are good at finding bottoms or tops of major trends. They do an allright job of finding entry points but lack the intelligence to analyze the total chart. In short - nothing beats the human mind. The kind of technical analysis I speak of is themore tried and tested charting techniques as found in Edwards and Magee's "Technical Analysis of Stock Trends". As an aside, many of the short picks here spell danger from a technical perspective but I will let you guys find out which ones the fun way. Jim

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