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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: daryll40 who wrote (39450)	11/10/2000 2:48:53 PM
From: Sun Tzu	Respond to of 70976

The short answer is that looking at support and resistance levels as you've described it, is like looking at historical P/Es and stating you've done your FA homework. BTW, FA is about as subjective as TA is. It may give you the appearance of being more objective. But I can state previous price patterns as objectively. ST

To: daryll40 who wrote (39450)	11/10/2000 3:00:54 PM
From: Gottfried	Read Replies (1) \| Respond to of 70976

Daryl, TA is far from a holy grail. All we're saying is "investors stopped selling last time price dropped to XX dollars. If they still feel that way, maybe this time they will stop at XX too". But if they continue selling below XX, sentiment has changed and we worry [if we're long]. Sometimes triple bottoms happen within weeks and that can be a powerful buy signal - sometimes. I lucked out with buying SLB that way YE98. finance.yahoo.com That wasn't a pure triple bottom because the last dip was lower, but I bought SLB there. Anyway, it's just another attempt to make sense of things and may even beat listening to yet another optimistic outlook statement. Especially when price trend contradicts the statement. Gottfried