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To: Netwit who wrote (3138)	1/8/2000 2:31:00 PM
From: Seeker of Truth	Read Replies (3) \| Respond to of 6018

1. Technical analysis is bunk; it should not be used by any sensible investor. 2. Reading tea leaves to predict the future is also bunk. 3. There is no God. Let me just prove statement 1. Give the technical analysts the first (earlier) half of a chart and ask them to extrapolate to the future which you have torn off. Statistically speaking, they can't do it. This study has been done innumerable times in departments of economics,finance,business etc. So why is TA so popular? Same reason religion is popular. It gives people what they long for, some confidence that they can make money in the TA case or live forever in the latter case. Never mind that the confidence is misplaced. That's another matter. P.S. Some people say "Well TA works some of the time." That's equivalent to saying when our coin toss comes up heads it won't rain. That "works" frequently. Have we proven any linkage of coin toss and rain?