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

To: TechTrader42 who wrote (11545)	2/11/2001 6:36:53 PM
From: Michael Watkins	Respond to of 12039

;-)

To: TechTrader42 who wrote (11545)	2/12/2001 2:15:14 PM
From: TechTrader42	Read Replies (1) \| Respond to of 12039

So are all our predictions coming true today? Are we ready to launch a TA newsletter? It was quite clear from the chart that QLGC was going to plunge 20 points today, and that EMLX was going to plunge by 50 percent. I don't know why people bother with FA. All sorts of proprietary squiggles on my charts anticipated the downgrades and resulting fallout. The P/E's for those stocks weren't relevant at all. I'm all for keeping TA as pure as possible. I wear blinders when I trade, so I don't even know what the weather is outside. I feel strangely dirty if FA creeps into my analysis. TA is such an exact science, and FA is so subjective, what with creative accounting and all. EMLX's candlestick on Friday was most revealing. If you magnify it 10X, you can see a small explosive charge at the top of the candlestick, with a short fuse. Over the weekend, you could actually see the flame working its way slowly up the fuse (with ActiveImaginationCharts). Funnily enough, MACD 8/17/9 was actually turning back up for EMLX, but the fuse in the candlestick warned otherwise. (MACD has a little problem with the truth, it seems.) ActiveImaginationCharts, Copyright, 2001 ("Truth lies only in the imagination.")