Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (41313)	9/15/1999 11:37:00 PM
From: Chris O'Connor	Read Replies (3) \| Respond to of 152472

Message #41313 from Jim Willie CB at Sep 15 1999 11:19PM <<TA = Hocus Pocus>> "written my person wholly ignorant of human psychology, laws of supply and demand, herd mentality, and probably suffering from deep seated insecurity rooted in that ignorance" If you put 10 technical ANALysts in a room, 5 would argue that the charts idicate the stock is going up and 5 would say the charts indicate the stock is going down. Just read the different thougths from the various TA people on this thread. Some were telling us they were correct in predicting the bottom was 155 and others were calling for more decline (Just read the posts from monday to verify this. They are in hiding now). Now please tell me why fundamentals and news mean nothing while the charts are never wrong? Also, why are there several interpretations of each technical rule?

To: Jim Willie CB who wrote (41313)	9/16/1999 11:00:00 AM
From: w molloy	Read Replies (2) \| Respond to of 152472

JW - TA = HocusPocus Show me 1. How TA would have predicted the rise in QCOM stock price in February. 2. How did TA predict the magnitude of the rise. 3. In more general terms, how successful was TA in predicting the 'Black Monday' market crash? (or any market corrections for that matter). You should have a look at the following Bernstein "Against the Gods - a history of risk management". Challenge - predict QCOM trend over the next three months. Please be liberal with all those funky TA terms. I could do with a laugh TA is little better than reading tea leaves w. PS - How do you know I'm a sir?

To: Jim Willie CB who wrote (41313)	9/16/1999 5:46:00 PM
From: Maurice Winn	Read Replies (4) \| Respond to of 152472

<sir, you are a veritable slackjaw you must be some anal-retentive engineer> Jim, that's not very nice. Besides, your TA is simplistic and TA has less to do with ignorant human psychology, laws of supply and demand, herd mentality blah blah blah than it does with algorithms/neural nets in puters which are increasingly doing a much better job of technically analysing [there's that anal retentive TA word again!] not just human anal-retentive TA behaviour but other computers' TAnal behaviour. With these fast puters doing Qomputing [quantum computing by Qualcomm] any TA you or I try will be like watching Kasparov try to beat Deep Blue. Good luck, you'll need it. Of course, with 1000 monkeys doing the stock picking, with blindfolds on, there will be one which picks so many winners in a row that it thinks it's some sort of TA stock picking champ. There's no way to know whether it was luck or brains. Besides, being rude to people is not very persuasive and says more about you than the person you are rude to. Though I know it can be fun at times. I even gave some rude comments via PM for the first time in 3 years [really just tit for tat for fun]. You must be extremely wealthy now if you have got TA buttoned down. People planning to be TA aces better be careful. The rules have changed over the last few years and are changing quickly. Not to say that groups like Long Term Capital Management can't go down the gurgler and I suppose they were TA aces using the best of algorithms. Hard to avoid that Zenit butterfly taking off in Kazakhstan. Here's some proof. TA says that head and shoulders is a dinkum formation. I've attended the official TA association in London, the heart of the financial world [for many] and yes, H&S is a 'formation'. Here is a dinkum head and shoulders. Guess what! After the second shoulder, the prices didn't do the big run down which they are supposed to. Now, check out Popper's theories on falsifiability and you can see that at least this aspect of TA is rot. Of course, magic and shamans and religious people can't stand too close attention and there is immediately a reversion to 'belief' 'faith' and mysticism: bigcharts.com I think investors should not be sucked into this TA stuff or they will be likely to lose their shirts. Of course, like a casino, there are many, many winners who shout loudly from the rooftops. The losers slink away quietly, embarrassed. "Hey, I can day trade too" goes up the cry. No you can't. Don't do it folks. Just another slawjaw, yes, with an anus, which I do keep tightly shut nearly all day long.