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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: waverider who wrote (14269)3/10/1998 5:50:00 PM
From: Chuzzlewit  Read Replies (1) of 95453
 
Diamond, at the risk of starting internecine warfare, Thean's remarks are ludicrous. There is nor statistical evidence to favor the idea that TA works, but there is plenty of statistical evidence to indicate that it does not. I don't care whether we are talking about Bollinger bands, P&F or Japanese candles. And the idea that you must approach it with an open mind is like saying that modern geographers need to consider the possibility that the earth is flat, ot that medical practitioners need to consider the possibility that wearing a copper bracelet is an effective form of arthritis treatment.

One of the major reasons that western civilization flourished while other civilizations languished is that the west had an alphabet which allowed people to benefit from the knowledge of others. One major goals of education is to obviate the need to reinvent or rediscover that which has already been discovered.

TA has been studied to death by mathematicians and statisticians. They have come to the conclusion that there is no memory in past price and volume histories.

I will now put on my battle helmet and flak jacket and await the inevitable rebuttal from true believers.

Regards,

Paul
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