Richard, I would love to take up your TA challenge. Unfortunately it lacked specifics. Would you pick charts at random? I suspect that some of the TA haters out there would present 10 charts of companies just before a news driven event (IBM takes over Lotus, Lotus doubles overnight).
Would you pick charts with significant signals? Sometimes the chart tells you nothing, and "I don't know" is the correct interpretation. If you have discounted TA in it's entirety, how would you identify charts with significant signals, were you to agree to supply only charts with them?
What time frame would be used to judge whether a technical analysis is correct? What time frame would be presented looking back?
Would you also supply the fundamental data of the companies whose charts are selected?
Would you agree to supply charts of stocks only? I. e., no charts of flipped pennies, or other chicanery?
What about indicators? All I would require is a 10, 50, and 200 day EMA and volume, but if someone else wanted it, would you supply Bollinger bands, stochastics, William's % R, MACD histograms, etc?
These are just a few of the questions that popped into my mind specific to your challenge. I have avoided challenging the belief held by some on this thread concerning the validity of TA because I have found it pointless to argue with the almost religious disbelief (is that an oxymoron) when it comes to pure fundamentalists. But I was unable to stop myself from responding when you poked this last time. If we can set up a little more specific rules, I would definitely consider participating in your challenge.
Barb |
