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Technology Stocks : Disk Drive Sector Discussion Forum
WDC 163.33+3.5%Nov 28 9:30 AM EST
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To: Frodo Baxter who wrote (4927)11/9/1998 4:42:00 PM
From: Kevin Linder  Read Replies (1) of 9256
 
Lawrence Kam;

I think this my be the answer to your question. Technical analysis does not work - just ask any academic at any university. It is comparable to voodoo or reading bird entrails. That is the response and the level of response.

Go to Wall Street and ask the firms analysts how many use Technical Analysis and you will find that almost all do some form of Technical analysis. Fundamental Analysis and Economical analysis are relegated to a second place type of study.

The answer I think is that Technical Analysis is everybody looking at the same charts and graphs and using computer programs that say the same thing. Therefore, its much like the running of the lemmings. The stock moves up or down because everybody starts running in that direction.

Ignore Fundamental Analysis at your own risk. The same is true for Technical Analysis. The old saying of "don't fight the tape" is the most appropriate here.

Kevin Linder
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