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To: Raymond James Norris who wrote (3059)	1/14/1998 11:15:00 PM
From: Sigmund	Read Replies (1) \| Respond to of 14266

I think Sadaam used this technique without much success during Dessert Storm. I think you are right though that there are two possible values to any sort of TA. It either tells you what is happening and thus is useful or it might represent a self-fullfiling prophesy if others believe in it and act on it. Personally I am more interested in the former. That I think if able to be done provides a real edge. The latter seems to me, even if it occurs, which I am not willing to concede on a general basis, creates some difficulty in exploiting. It suggests a rush to make a particular move and an equal rush to unwind the position before others who are operating under the same theory unwind their positions. Sounds like it would be difficult for me to wind up ahead in such a game. But enough for me anyway on this subject. I am more interested in support and resistance levels determined by any means whether this be MA's EMA's or other perhaps more arcane means. There certainly have been many plateaus obsesrved in the bidding recently both on the way down and now perhaps on the way up (although the direction is not that clear to me yet).