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Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Monty Lenard who wrote (33321)	3/27/2002 6:09:22 PM
From: TechTrader42	Read Replies (4) \| Respond to of 52237

Monty: This is the post that seemed to get some people all hot and bothered. I questioned whether someone had indeed called the top, because I had foolishly interpreted their remarks as bullish. Message 17227333 As it happens, OJ was cool about it -- laid-back. He didn't take the kidding seriously. And there's no reason why he should have. He has a system, follows it, and that's it. The rest doesn't matter. I admire him for following his system. But some people got in a fine tizzy over my suggestion that the top wasn't predicted. And I still don't think it was predicted. In fact, I think the note was pretty darn bullish the evening before the fall on the 20th. One can't question the ability to predict, it seems, because it goes to the very foundation of people's faith in TA. Of course, good TA has very little to do with believing in predictions, but there you are. Most people don't care about analysis. They want to know where the market is going tomorrow, and they want some guru to tell them. Some realize after many years that no one knows; many never learn. Faith springs eternal. Some traders were once again making bullish statements at the close today, based on the rally (such as it was). If the market were to tank tomorrow or Monday, I'm sure there would be the usual revisions of the predictions. ('If you read the note carefully, you'll see my support targets. I was calling for a short-term pullback.') The experienced prognosticators have learned to make their notes as vague and ambiguous as possible, so any predictions can be revised in hindsight. When we launch our newsletter, Monty, make sure we never say anything we can't wiggle out of the next day.