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To: Art Bechhoefer who wrote (113910)	2/21/2002 6:17:45 PM
From: JohnG	Read Replies (2) \| Respond to of 152472

Wave Theory Analysis of market. badsmells.homestead.com

To: Art Bechhoefer who wrote (113910)	2/21/2002 8:00:36 PM
From: waverider	Read Replies (4) \| Respond to of 152472

Art, you were making the same undervalued comments at $80. Is there a point at which you listen to the market and cut your losses? wr

To: Art Bechhoefer who wrote (113910)	2/22/2002 7:24:15 AM
From: Don Pueblo	Read Replies (3) \| Respond to of 152472

Art! Your post seemed more like a pitch than a post. Nothing personal, and with all due respect, as it were, I am aware of the 'for every sale there is a buy' maxim. Meaningless to me. Sorry. The one I use is one I thought up myself. 'Get the right entry point, and the exit point takes care of itself.' Your next sentence uses the word 'fundamental'. I assume you are talking about the <<<< dare I say it >>>>> 10-Qs and 10-Ks and all of that. Then the next sentence mentions a magazine and then you mention fears of accounting irregularities. Art! My good friend! All these news events happen *after* the chart pattern forms up. You just have to be able to see it. I know that sounds wacky to you. I had a pleasant discussion with Bill Wexler about this same subject some time back. Many people think technical analysis is voodoo and nothing but a lame self-fulfilling prophesy that the creepazoids on the floors of the exchanges [you know what I mean] use to try and hypnotize their clients while they charge things on their accounts and report the loss as per the code and all that. "Reasonable Justification for the Present Price"? Art! It's all right there on the chart, my friend! If a bottom pattern forms, then you buy [fill in symbol]. If a top pattern forms, then you short [fill in symbol]. If you don't see a pattern, then you don't buy [fill in symbol] or short [fill in symbol]. If you are short, you look for a bottom pattern to exit. If you are long, you look for a top pattern to get out. Otherwise you watch. Or read a magazine or something. Everything else is reward/risk mathematics. A TA strategy that does not fully address risk is, like Nomad said, "...flawed and imperfect." Put the Barrons and the 10-K down [just briefly, you can still rub it every so often for luck], my friend, it is warping your vibrations. And I mean all this in a good way. "People lie. Charts don't lie" -NotFlargg (c) NotFlargg Excellent Quips, all rights reserved