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To: Trumptown who wrote (279923)	3/12/2004 1:11:04 PM
From: Michael Watkins	Read Replies (4) \| Respond to of 436258

People that draw intricate trendlines (often hundreds of them on a chart) give me a real kick. As if there is some baked in rationale in the market that events from 10 years ago can influence what happens today. No, people win or lose money today in real time and they compare their statements with what they had yesterday. That more than anything drives sentiment and therefore activity. The most powerful trendline is a horizontal one of mere days... everyone can relate to a linear comparison of "I was making money just there and now I am not". No one can relate to "some guy was making money in 1905 on this day therefore I will". Not to mention that most use indicies for their grand long term prognostications, indicies that by very nature constantly change and whose components from one year to the next - and these days one month to the next - change. Why bother drawing a trendline back to the begining of time when that is the case? Back in 2001 some were conjoining planets and guys named Elliott and tea leaves from long dead people, claming the "bear was dead" Message 15437043 LOL Of course, folks like Nicolas with their neurofuzzy logic and new age tin foil helmuts went on Global Panic Alert the day after the most significant low in 2002. Sigh. What's so hard about "its going up" and "its going down" and more importantly "its going sideways - nowhere man" Oh, I know - the "hard" stuff is just an industry to give people that can't trade jobs. LOL