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Strategies & Market Trends : From the Trading Desk -- Ignore unavailable to you. Want to Upgrade?

To: Richard Estes who wrote (2088)	12/16/1997 8:27:00 PM
From: Robert Graham	Read Replies (2) \| Respond to of 4969

I was blessed to be introducted by TA people to market, Not by a college professor, Lynch, Buffet, or the little old ladies club. Now, was this nice, Richard?? I think you do understand what I am talking about even though apparently choose not see my concerns as an issue. Well then, I will have to do a little analysis myself on low priced stocks to have a better basis for a discussion with you. Also, I will see if I can find an example of what I am talking about from one of your scans in order to help make what I have been talking about more "black and white". This way we will have something substantive to work with. I assert that just because "volitility" can be seen in the chart does not mean the stock would be a good candidate for trading, or even lends itself well to traditional TA practices that would facilitate successful trades in the stock. I may be wrong here, but this is what I think. I do understand that this in part depends on the skill of the trader and their technical skills. Perhaps the next statement of mine will insult or even enraage TAers. I believe there are stocks out there that do not work with TA. I have run across some of them myself. TA is not the endall, it does not provide 100% of the picture, and with some (actually more than just some) stocks, it simply is not accurate enough to be usable. There have been people in this business of TA for a long time that have discovered this themselves, like the futures market trader Larry Williams who also at one time traded and wrote about the TA applications to stocks. Actually he found TA used by itself in general to not be accurate enough for him as a trader. He uses TA with other methods in his trading. I suggest a read of one of his books. It may prove to be enlightening to some who follow TA. No offense meant to you, Richard. Bob Graham