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Strategies & Market Trends : Point and Figure Charting

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To: Don Pueblo who wrote (17392)	4/11/1999 12:54:00 PM
From: ed doell	Read Replies (1) of 34804

I have no problem with statements such as when you say "qualified guesstimate". I have no problem with personal opinions (however obnoxious or misguided). I have no problem with P&F as an honored and reliable TA. I can see how you might have thought I was blasting P&F which I was not and would not... IMHO it is one of the best TA's available if the assumptions upon which it is based are in evidence when it is being applied. And if the conclusions drawn from it are not beyond its modest (and frequently reliable) parameters. I do have a problem when posters make implied predictions about support levels and price potential when the assumptions upon which they make their "supposed TA" are not in evidence. TA is a method by which opinions are supported. When the assumptions of the TA are invalid, TA is not in evidence. In the quote below you say what I wanted to say and should have said far better than I did and I thank you: "It's a tough call technically due to the spike; all the oscillators are pegged out, so we can't really see much. We must go to other signals that are not pure TA and may not fill your definition of "legitimate". If L1 merely said... this is what I think (IMO), I might disagree with him, but so what? When someone uses TA with premises which are questionable, and uses that "supposed TA" to bolster their opinion, that person IMHO gives TA a bad name. I respect your reasoned approach to my post, I respect your apology to mike.com (I think he's a big boy and can take getting roughed up from time to time), and I agree with almost all of your points which you make in your post to me. I apologize to you and the P&F thread for responding to Lost1's post with the attitude it had on it... peace, and best of luck, Ed BTW would you agree that the overall increase in volatility in the market and particularly with individual stocks makes TA difficult at best, questionable more often than not... things begin to look more like Vegas and less like the markets and stocks upon which much of TA was founded?

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