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Strategies & Market Trends : Asia Forum
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To: nihil who wrote (8438)3/25/1999 4:20:00 PM
From: Paul Berliner  Read Replies (2) of 9980
 
You're missing the lesson learned - which is that an institution studying a chart in Japan does not see the same chart as an institution in New York would see. If you think T/A has no leverage in directing stocks and stock markets, you've got a lot to learn. Most investment managers may be fundamental analysts but everyone looks at the charts - just some rely on them more than others. What caused the recent & sudden 8% jump in one week for the Nikkei? The break of a major resistance line - not to say that the Nikkei wouldnt have risen without the break - but the triggering of stops, the mass purchases of futures by technical traders and the TALK that it broke a major resistance level all lent to the MAGNITUDE of the ascent. Why did the Yen rise 20 in two days in October>> one famous hedge fund covered a major short yen position to satisfy margin calls on the GKO catastrophe (that every hedge fund was a victim of in one way or another) and the sharp 3 to 5 yen move caused by the covering happened to be at a major resistance level, where EVERYONE had placed their stops (and they still all place 'em at the same levels) and thus a massive amount of transactions were triggered, rocketing the yen in dramatic fashion. T/A is everywhere in the market's moves.
As for the blurb on Quantam Mechanics, I really didn't get any of it!
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