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Pastimes : CNBC -- critique.
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To: capitalistbeatnik who wrote (1377)8/10/1998 11:50:00 AM
From: Toby Zidle  Read Replies (1) of 17683
 
The sports analogy to Tech Analysis is, I think, flawed. Coaches go with the best percentage play instead of the 'hot hand' because they're trying to focus on the next event, that next basket. For me, the next event is the next day's close, and T.A. won't predict it.

But the 'next event' isn't important in itself. It's a whole string of 'next' events, the trend that makes the investment. You know that the 'hot hand' makes the starting lineup. And he'll stay there as long as he's hot. Baseball, football, basketball, or stocks. That's TA.

If market forces are all random events, are you picking your stocks by dartboard. Why not?
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