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Non-Tech : Claire's Stores (CLE) NYSE -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (468)	12/6/1997 11:03:00 PM
From: Brad Bolen	Read Replies (1) \| Respond to of 619

Paul, If you want to be up to date on the virtues or falsehoods of TA, you had better get more contemporary that the "Random Walk" tome. Academics are, in part, abandoning many of their prior conclusions concerning the Random Walk Hypothesis. In fact, CNBC did a piece on this a couple of weeks ago. That said, this particular book has been a cornerstone of my investment phylosophy for many years. A more recent book (but not by any means an academic exercise) is "Stocks for the Long Run" which rightly points out that certain techinical systems have ,indeed, shown the ability to beat the indices by a bit more than 2% over the last 30 years. This is a whopping number, except for, as they also point out, the costs of commissions-- a factor that, If I remember (and that is no gaurantee) "Random Walk" took into account in some of its studies. But it is worth noting that the commissions taken into account in the more recent book were much higher than more recent online trading opportunities. So, your remark about their being no statistically no sound evidence..et.al is not empirical, and many a more studied professionals than you (I assume) would gladly debate it. As for CLE-- the way things get exhaggerated in this market I would not at all be surprised for the stock to get hammered down beyond reason. However, I strongly believe this is a great little company worth owning. Cheers. B B.

To: Chuzzlewit who wrote (468)	12/7/1997 7:12:00 AM
From: Irene Lynn	Read Replies (3) \| Respond to of 619

Paul...nothing works 100%..not even on a fundamental analysis EITHER!...I'm not trying to time the entry point as much as I"m trying to reduce my DOWNSIDE risk!...Too bad you can't keep your emotions in check to have an intelligent conversation. I have no problems in discussing this. I have a problem when people blatently come out and say something FOR SURE...as in your statement TA doens't work! Nothing works 100%. Time will be the answer to know what the story is. And most of the time ta was trying to tell you something..MOST OF THE TIME...Here's a book for YOU to read...John Murphy's Visual Investor...It's easily understood so I"m sure you can grasp it..... I apparantly I've hit a nerve. I guess it depends on what side of the fence one is on. If you own the stock. You don't like to hear ANYTHING remotely negative cuz it's a reflection on your own decision. I haven't disagreed that Cle is a good growth company. You missed MY point. I was just saying that the ta makes it look like you have more short term falling before it can go further. Why couldn't you have just addressed the questions I had...which were..1. Why does the stock go down on good news?...2. Why aren't they buying their stock back?...Maybe you just haven't encountered the types of experiences I have had when it comes to "falling in love" with a stocks.... Regards...and I will go back to lurking and keep my opinion to myself next time! irene