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Strategies & Market Trends : The Millennium Crash

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To: Moominoid who wrote (3628)	10/3/1998 8:49:00 AM
From: GROUND ZERO™	Read Replies (2) of 5676

David, Yes, I did see your comparisons. The only exception I have with any chart comparison is that many tops and bottoms look very similar, this is why technical analysis works at all. Now, please do not take offense at what I'm saying, but along the way, there are many tops that look like those same three tops but rallied to new highs soon enough thereafter. I don't know if it's intellectually honest for me to say that these current markets will crash just because each of the previous crashes had similar tops. It's not logical, meaning that one cannot confirm an antecedent event by presuming its consequence. This is the most commonly made error by chartists and may be a blind spot in our reasoning. If my reasoning is defective, please let me know. I appreciate a good discussion on the logic of market charts. I easily could have missed something here. GZ

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