To: StockOperator who wrote (19388 ) 7/28/1999 11:01:00 PM From: StockOperator Respond to
I hope everyone has been well. I've been traveling lately and haven't had the time to post but with the markets at such a critical place its seems like a good time to add my two cents worth. First of all I would like to say that it was hard to believe that Larry Williams has made such a dramatic shift in his opinions regarding TA. If those comments posted earlier today are indeed true they speak volumes for every book or seminar that Larry has par taken in over the years. Plus it completely opens for debate just how LUCKY he was during his earlier years when his reputation was being made. The technical methods that turned 10,000 into a cool million years ago SHOULD AND STILL DO apply today. Perhaps what he is saying is that his success from earlier on was due to his rather large cajones (at the time) as well a 12 month streak that most traders would die for. Either way his comments are very enlightening and says a lot about his understanding (lack of) of price behavior. The sad thing about his admissions is that there will be plenty of people swayed away from TA because of them. Plus all the random walkers will now seem somewhat vindicated by his reversal. I hate to be rambling on about this subject after not posting for a couple of weeks but as someone that has traded (successfully) STRICTLY off the charts for many years, and thats NOT TO INCLUDE LEVEL 2, this subject strikes a chord in me. As far as I'm concerned TA is the single best tool available when competing with the smartest minds and deepest pockets on Wallstreet.
