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Non-Tech : Amati investors
AMTX 1.600-1.8%Jan 9 9:30 AM EST
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To: pat mudge who wrote (7513)12/27/1996 9:47:00 PM
From: John Morrison   of 31386
 
Pat: TA is not perfect. But it is useful. It is most accurate on stocks with large floats that cannot be easily manipulated. I will not buy stocks that trade less than 100,000 shares, because they are easy to manipulate. The MMs do everything they can to fool us with pump fakes and other slick moves. Knowing they do this, we can watch for false volume (boxing). No one should lose because of TA if they follow the 10% rule -- It is wise to cut losses at 10% when a mistake is made. Charts give us tips on reversals and continuations. Anyone without TA just does not have the benefit of those tips. TA is now tipping us off on Amati. It shows a reversal here is very possible. A reversal is not assured. Most well known technical indicators are based on solid math and have been tested extensively, but that does not make them perfect for every stock. TA folks backtest indicators to see how they acted on the same stock in the past to increase accuracy, but that does not make them perfect.

Re: AOL reference -- the stock and confidence in reading of the chart had nothing to do with that person's trading problem. Another stock, AT&T, went down from 68 to 36. A lot of people lost money on that stock -- was their error in chart reading? No. (Note: AOL was giving numerous sell signals the first week of May just before it's decline).

John
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