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Technology Stocks : Seagate Technology
STX 237.49-1.3%Nov 21 4:00 PM EST
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To: William Epstein who wrote (6143)11/2/1998 12:19:00 PM
From: manohar kanuri  Read Replies (2) of 7841
 
William:

There are people behind these patterns and the charts show their footprints in the sand. Of course, no one has to believe me. I don't ask anyone to believe me nor do I expect it but the purpose of this BB is to share what we've learned and this is what I have learned. Food for thought?

For me it's not a question of being believable or not, being right or wrong. You cannot deny a footprint in the sand. The logic of that is, to use my word for the day, irrefutable. It's simply a matter of perspective. Sometimes it pays to follow the footprints, and there, I prefer to follow only the freshest footprints. The reason you took the path you did is more likely to remain current a few minutes or hours after the fact, than a few weeks, months or years later. At other times it pays to look up at the tsunami coming in and decide that it is better to abandon the beach and the footprints for the nonce and hurry home.

I'm not questioning your tracking of the specialist's movements. Or your reading of the charts. I also realize that the role of charts can be akin to the proverbial camel's nose in the tent. You have to exercise a certain discipline with the beasts. I'm simply framing charts in ways that fit my risk/reward and effort/payoff ratios. We all, you included, do that. We just do it at different points on the continuum.

mano
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