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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (5777)	3/2/2002 2:10:28 PM
From: Raymond Duray	Read Replies (2) \| Respond to of 33421

Let's Change the Nature of Technical Analysis Hawk, One of the things that I'm discouraged by in any attempt to do TA is the corrupting effect of interventions of the part of the Working Committee on Financial Markets in the index futures market. It seems to me that the small trader is at a distinct disadvantage and prone to being on the wrong side of the market if he's short, when the FRB in collusion with Goldman and Merrill apply massive amounts of public money to goose the futures and prop up the stock market. While plunge protection, for the sake of preventing panics such as occurred on Oct 19, 1987 seem prudent and sensible, an apparently continuing pattern of intervention leads to markets that are not transparent, that confound market participants who are not insiders and is generally corrosive to the notion of free and fair markets. What I will suggest, is that any attempts to interpret stochastics, Fibonnaci arches, candlesticks, money flow or any other TA metric becomes a exercise in futility if the fix is in. And it often appears to be the case. That's why I rant about fixing the political system. I'm just fighting for a level playing field so I don't feel that priveleged market participants have been given too much advantage over the rest of us. Wishful thinking at its best. I know. But I can hope that we try to take some of the corruption out of the system in view of the wonderful opportunity presented by End Run and all the crooks who are giving capitalism a bad name. Cordially, Ray