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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: KymarFye who wrote (62806)	11/19/2000 12:39:28 PM
From: Square_Dealings	Read Replies (1) \| Respond to of 99985

<<My criticism of Hahn, securitytrader.com, and others has to do with their methods, terminology, and sensationalism.>> Sensationalism? This is my last post on this subject, but I have to respond to your comments since you are criticizing two of the best technical analysts around in my opinion. I fail to get your point. Unless you are familiar with the methods and terminology used by these analysts, how can you criticize their work? I am very interested in learning more about how you would analyze the market, or an individual stock, and the methods and terminology you would use. Care to give us an example? M.

To: KymarFye who wrote (62806)	11/19/2000 6:59:39 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 99985

KymarFye, Re Hahn double top call on ARBA, I'm of the mind that the market is generally a one day at a time thing, looking back in time of course at previous areas of support and resistance. I've recently stated here that while I observe H&S patterns, I dont pay much attention to them, having found that within the much larger pattern there are more eminently tradable patterns from which to pay the bills with. The double top is another such pattern in my opinion, unless the 'double top' happens within a fairly small space of time. Here's my look at ARBA from a bigger picture perspective. Within the 12 months that this chart encompasses, there are plenty of tradeable, classical, patterns although I have not added them in due to chart clutter. intelligentspeculator.com Key in my analysis are the short horizontal lines that illustrate the trading range at the end of a trend. It really is as simple as the trend is your friend until it ends or bends... detecting the end is the key. Incidentally, can you not almost 'feel' the fear and indecision from Oct-present on this chart once the break of the uptrend was noticed, big time, by all the players? This seems to be a TA works or not discussion more than a discussion as to whether a specific pattern works or not. I certainly am not trying to argue the point, having resolved it in my own mind long ago, with a profitable and low risk outcome being one of the benefits. What I do like to point out to TA skeptics is that most active investors (note I didn't say traders), skeptic or not, large player or not, look at a chart at some point during their investing deliberations prior to making a buy or sell. Even that uneducated look leaves an influence, causing some to buy, some to sell and some to stand aside. Multiply that effect by many times and add to it the active participants that use TA as a tool, and you have a chart that depicts emotion more than anything. TA remains our tool to measure the emotion. Trading (or not!) is what we do with the information derived from the measurement. cheers mw