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

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To: Bill Wexler who wrote (308)3/11/1998 1:48:00 PM
From: Zach E.  Read Replies (1) of 4634
 
Bill,

This is an interesting thread. I think that your picks are probably
headed to lower prices in the longer term. However, I'm not sure if
I agree with the following,

There is absolutely no scientific evidence which supports the
hypothesis that chart analysis will yield some knowledge of future
prices.


I think that O'Shaugnessy found that using high relative strength as a
criteria (particularly when coupled with low price/sales ratios) has
been quite profitable over the past 40 years in "What Works on Wall
Street". I'm not sure if this is strictly considered chart
analysis, but it does lend credence to the hypothesis that price
momentum should not be ignored.

Zach
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