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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Richard J. Byrd who wrote (11620)	12/14/1997 10:10:00 PM
From: Richard Estes	Respond to of 94695

James A tool like TA loses it's edge when every one gets on to it, if too many use the same tactic, then it gets worthless unless you find a way to suplement it... > Good TA is always valid. This type of statement is more appropriate to futures with few markets controlled by the "commericals" but with stocks you have 8000+ markets. 2nd point, no two traders use the same decision process and some don't have the ability to apply TA.

To: Richard J. Byrd who wrote (11620)	12/15/1997 12:32:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Richard; that one made me laugh..so lets say every one use the same TA..and tries to sell the stock,,yep it will go down..but were do you find any buyers ? Like wise if every one desides to buy..were will you find the sellers ? Why a stock would go all the way to zero in one swift swoop, or fly to a trillon or so dollars a share on no volume...every body just bidding and bidding.. man that would be a sight to behold...but just how in the hell could it work ? Now here is some off the beaten path FA..look at how much of a stock is held by institutions, say its 60% then look at how many instituions hold it..say 1000 so 60/1000 = .06, not bad , you can figure out the rest. Jim