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Politics : Idea Of The Day
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To: Getcher who wrote (17466)3/19/1998 11:35:00 PM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Getcher -off topic
I think you will have to bear with my What? kind of post-- but since you are game and plan to listen I will like to make few pints.

TA-- I have respect for analysis but I think TA alone is like Doctor who has not yet completed his residency programme- it is FA which gives specialisation and alongwith TA brings the finesse or coup de grace. One should couple the two and emphasise on FA more then TA.

Like triple witching today is a classic example--within a bull trend a trader who is short S&P at 992 or 1040 (out of habit or listening to SI ggg) future needs to settle cash now he has two outlets pay up cash or sell some more at these levels to generate new cash --selling more at these levels is the key to watch that one factor will prepare the background of next week move of the market and I shall be looking intrestingly at this activity.

Now with bear trap strangled around his neck nothing but broad based fundamental analysis of traders psychology can can tell you which side market may move, the problem that fundmanetal analysis has not gained popular folowing has more to do with info availability-- unlike TA where certains bands and levels help make you the decision for FA you travel in unknown - one needs to look beyond conventional wisdom like 'Nimitz in Oct' or 'Japanese Prime Minister warning of selling Japanese assets' or common logic that 'Japanese will unload TB's' on this very same thread we have identified errors in these repeated warnings and have taken nearly most of the time unconventional approach and contrary trades and therefore have been able to stay with this market so long.

Idea have been a prema- bull but is market not about riding it-- TA alone will never let one ride these lofty levels a bird's eye view is a rarity and one needs to have a little more then bigcharts or ICQ to achieve that-- it is this view I strive to attain and in the process I perfectly understand sensiblities hurt, when I fail to understand something I look at my shortcomings fully realising how important it is to learn learn and learn, market is a daily phenomenon and tug of war we as minor players need to look at various settings from different perspectives without forgetting that cardinal issue is that we should follow what works best for our circumstances-

Thanks I hope this is helpful Best regards.

Ike
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