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Technology Stocks : TLAB info?

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To: synchro who wrote (2262)	3/13/1998 12:44:00 PM
From: Chuzzlewit	Read Replies (1) of 7342

OT Synchro, I went to a talk last night on momentum investing, where basically the system had to do with finding stocks with IBD relative strengths of 95 or better and some gibberish about buying when one moving average was greater than some short term moving average. Guy was really pleased with his system. Generated about 10% in only seven weeks, and pointed out that this represented about a 203% rate of return annually. Very big deal! Lots of oohs and ahs from the audience. THEN I asked "What did the Naz do in that period?" "Well says he", flipping through his charts and chicken guts and tea leaves "lets see." Guy now gets a little red in the face as he works his calculator a couple of times. Seems the Naz rose 11% during that same period. "So", I say "what you're really telling us is that your system is capable of underperforming the market during a period of a very strong uptrend in the market. Just the kind of period where, if your hypothesis is true, you should produce your best gains." Guy moved on and took the next question about stochastics. Regards, Paul

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