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Technology Stocks : PSFT - 1997 Outlook [closed thread] -- Ignore unavailable to you. Want to Upgrade?

To: Chuzzlewit who wrote (813)	1/28/1998 9:06:00 PM
From: Don S.Boller	Read Replies (1) \| Respond to of 940

Paul: I AGREE WITH A LOT OF WHAT YOU SAY, BUT...... not all. Certainly many "method" or system plays are back posted - the method is devised after the fact - to explain what happened. It is also true - that over the short run - the market is a random walk. However, over the longer term (a year or so) the RIGHT KIND of TA will point out patterns of accumulation & distribution which tend to obey the (if I recall corr.) first law of motion = things in motion tend to stay in motion; things at rest tend to stay at rest. If you will get out your Securities Research - long term log charts you will notice some persistent trending stocks that were strong (it's been a bull-game for a while) for years. The error in my opinion comes from trying to pick the direction of the tide from watching each wave and where it hits the shore (a random walk? No doubt). But High & Low tides are NOT random. Yes, I know....storms and the like can reek havoc on the effect of tides. Well, I'll just end by saying that Warren Buffet and Peter Lynch have made jillions by betting on long term trends. Traders??? As an ex-broker - I never knew even one that consistently made money. And, the tax stuff you pointed out is right on. Plus the traders get caught in "switches". BWDIK Best, Don (p.s. my thread Market Trends & Strategies - let's make REAL MONEY - while inactive now - has severral posts from me to further bolster your thoughts).

To: Chuzzlewit who wrote (813)	1/29/1998 12:21:00 AM
From: Satyr	Read Replies (2) \| Respond to of 940

Ahhh I see your talking about the Holy Grail!!! You are absolutly right there is no stand alone TA system that will make money blindly. Just as there is no single FA indicator that will produce consistant profits. TA might be considered more of an art form than a science but if you can interpert the picture clearly profits are there for the taking. By the way I am a chartist and do not really use the latest fad systems that are churned out yearly to fit the latest market action. Charts have and always will reflect the past and give glimpse to the future to those who understand them. Charts only have validity in the fact that so many people follow them that they become self fulfilling. I am glad that you have had such success with your investing and i hope that it continues for you over the years. I only seek a 5% return per month on my equity and so far have managed to exceed that on a fairly consistant basis. May we both continue our success using our chosen methods. Bob