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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Michael Watkins who wrote (11316)	2/3/2001 9:09:06 PM
From: Nazbuster	Read Replies (1) \| Respond to of 12039

How about using ORCL as a case study for our TA observations and discussions for the next few weeks? It would be a decent vehicle for TA studies.

To: Michael Watkins who wrote (11316)	2/3/2001 9:29:11 PM
From: Trader X	Respond to of 12039

<Prediction is what gets newbies into so much trouble.> Nobody ever said that there aren't BAD predictions. I think what separates newbies the most is inexperience. In my experience, Random Walk theorists have always argued that the markets are unpredictable. TA pioneers such as John Magee argued otherwise. I side with the Master Magee in saying that price patterns are predictable behavior and can be understood. Unfortunately, so many people (newbies) don't bother to wait for confirmation before instigating a trade. That's their problem, and not the problem of the TA system of predicting price moves. An unskilled pilot may crash an F1 fighter, but that doesn't mean that the fighter is flawed.