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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Doug R who wrote (38031)	1/6/2001 12:10:47 PM
From: Steve Felix	Read Replies (1) \| Respond to of 79313

Doug, "We consciously take on lots of risk, believing that for experienced and Foolish investors, high risk will lead to high reward." I am going cliff jumping this afternoon. Right after I buy some lottery tickets. <gg> There is no attempt at money management. STOP is a big word to most users of ta. Absent in that article. We could do a test. Taking two monkeys throwing darts. One willing to take no more than a 1% of his portfolio value loss on any trade. I will take the monkey with the IQ of six. He can have the one with the IQ of 150+. Up market or down market. Just the tip of the iceberg. MESA 3drsi. Yikes! Hopefully it pulls back and becomes a player. If you get a chance I would appreciate hearing your thoughts on TMR and TPTH. Picked up some KPA on Monday. 89 voodoo. Ha! In the stupid dept., I tried to talk MME into being a double bottom. Enough said! I bid farewell to LH. (sniff) SALUTE!!!

To: Doug R who wrote (38031)	1/6/2001 2:38:00 PM
From: Steve Felix	Read Replies (1) \| Respond to of 79313

Doug, This person described my thoughts much more elequently than I ever could: "The biggest flaw in TMFOtter's article (as well as implicit in Train's buffoonish bet proposal) is that technical analysis is predictive. Unfortunately, the vast majority of TA critics, as well as many TA practitioners, cannot wrap their brains around the fact that TA is NOT a predictive tool, it is a descriptive one. I have never looked at a chart with the thought that I could somehow predict where the stock would be in a week, month or year. Nobody can do that. I can only see whether a stock is being accumulated or distributed and whether it is close enough to support/resistance for me to make a trade with an acceptable risk/reward ratio. TA is simply an effort to better calculate the odds so that you only place your bets on situations which you believe are most favorable to you. This must be combined with an effective money management strategy (which is probably far more important than the TA element of any trading system) to be productive. When a player counts cards in blackjack, he does not do so to predict what the next hand will be. He does so to constantly recalculate the odds based on the most recent hand(s) dealt so he then knows how to adjust his money management system. TA attempts to do the same thing in the stock market. It is certainly reasonable to argue about whether TA is effective or ineffective in doing so. But as long as you are hung up on the notion of TA being "predictive" there can be no useful discussion on the topic. Those who label TA advocates "tea leaf readers" simply lack an adequate understanding of the approach. To me, the buy and holders who look at things like balance sheets and income statement are the "tea leaf readers." Me? I'll never pretend to have even the faintest idea of where the market or any stock will be next month or next year. I don't think it's possible to predict the market. That's why I use TA." -chris Those fools can be funny: boards.fool.com

To: Doug R who wrote (38031)	1/17/2002 7:44:42 PM
From: Warthog	Respond to of 79313

scan junk RSI Based AAPL ALT CBRL CEL CHBS CPQ CPWR CTAS DISK FII FISV FMBI GLCBY HTLD HWP INFS INTL INVN ISCA LLL MCRS MKT MONE MSFT NFB ORCL OSI OVRL PTEC QMDC QSC SHOO SYMC TSG TTEC VTSS Delaware ATRX CHD CSTR MSO RMD SHPGY VCI Prime ABFS ABS AG ARA ARIA ARXX ASPT BCGI CHL CHRW CNC CNXT COST CSX DE DELL DIGL DV EK ELBO EMBT ENZ ERICY FILE FMO GOAM HDL HRS HWP IBIS IBM INFS INTL JEC KCS KSS MICT MOT MWY NTIQ NTOP NYFX OCCF OPMR PARS PLXS PMCS PRGN PWAV RFMD RIMM SANG SIPX SPF SPRT SWK SYMC TQNT TXCC UTSI VSAT VTA WFMI WMT WON YHOO enjoy wart