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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: At_The_Ask who wrote (60168)	11/22/2002 12:43:36 PM
From: NOW	Read Replies (1) \| Respond to of 209892

A fine summary indeed: "All these posts are quite interesting but all I see and hear since I closed most all positions about a month ago is that time and again the TA being used by many is getting blown up daily. Bears are fueling this rally by insisting that 'the top is in', etc. People really underestimate the ability of the powers that be to not only levitate the markets but to create buying panic. We have seen this time and again. It is not a phenomena that is in any way measurable by Technical Analysis. That is a very, very costly assumption. TA trails the action. This is a rally based in very unchartable Herd psychology. Retired mechanical engineers wearing bi focals may stand in front of it but that doesn't mean its going to stop. Technicians may harangue GNSS for moving up 300% but that’s beside the point. The whole point is the price action, not whether it should or shouldn't be going somewhere. Should or shouldn't will lose you lots and lots of money. Clearly both the Fed, the banks and the Mutual funds are dedicated now to rescuing their reputations and getting this to the highest level they can before years end. That much is certain. And they are winning in this phase, they have the Oct low landmark they are playing off of as a big seasonal marker and they have Santa Claus up and coming. Just my two cents, I wish everyone merely that they preserve their capital and enjoy the holidays" capitalstool.com