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To: Perspective who wrote (208855)12/10/2002 5:01:37 PM
From: yard_man  Read Replies (2) | Respond to of 436258
 
surely there is someone somewhere that doesn't insist on 5's -- abdce - 12345 -- why five?? why be so dogmatic -- why not just use modern mathematical tools to discern the cycles. I say modern, but Fourier analysis has been around longer than our markets ... surely not all stocks have the same spectra ...



To: Perspective who wrote (208855)12/10/2002 7:48:38 PM
From: robnhood  Read Replies (1) | Respond to of 436258
 
<<Whenever anything gets too much of a following, it stops working by definition.>>

Yes, and something I have noted of late in the markets is the tremendous increase in black box trading compared to regular trading. These machines are set up to think like pros, and could care less about fundamentals. Even CNBC is constantly trotting out things like support points and resistance, trendlines, etc.
Fundamentals?, who needs them? <g>



To: Perspective who wrote (208855)12/10/2002 7:51:19 PM
From: mishedlo  Read Replies (2) | Respond to of 436258
 
Whenever anything gets too much of a following, it stops working by definition.

I disagree with that.
TA works precicely because enough people believe in it and act on it

I am not sure about max pain.
It is pretty reliabe (because there is money to be made by the crooks). I am not sure if it would act differently if everyone believed it or not

M



To: Perspective who wrote (208855)12/10/2002 9:44:44 PM
From: Cynic 2005  Respond to of 436258
 
Actually, I am not dismissive of TA completely. I believe that many times charts do show the underlying psychological moves. But, charts also fool people, which also means that charts fail - if not as many time as they work.

But for somebody who doesn't believe in (or doesn't follow) elliot wave, those comments look so silly that you just have to see them through my eyes.


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