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To: JOHN SAMSEL who wrote (197)	2/23/1998 1:55:00 AM
From: Lawrence Burg	Read Replies (2) \| Respond to of 747

OFF TOPIC: TA OK, I won't even cheat and read any TA book intros for help...:-) I'm not familiar w/process management, & a neophyte TA, but I would think the goals of applied statistics are common. Measurement of quantifiable variables. Mathematical manipulation to expose significant relationships. Application of those relationships w/a high confidence level (based on historical fits) to confine future expectations. Simple, right? Yes, I'd say TA is a measure of investor sentiment; as it's manifested in the $ action of an investment. The data & tools available today allow one to grasp that sentiment better by broadening the field of view of the $ action. Thus, we are able to see where different influences originate & quantify them. Certain origins we couldn't see before might be influencing the price more significantly than those we thought were important before. Now back to the 2nd question (as if I thought I answered #1 & #3<g>): 1/2 of TA involves trends, such as when the price breaks through a Daily Moving Average(DMA). One follows the price if indicators confirm it's move. Trends means missing the extremes because indicators lag the market action. But, they might be considered slightly less unpredictable than... the 2nd 1/2 of TA involving oscillators, which hilite changes between indicators. Stochastics measures a closing price relative to an average. Changes (divergences, reversals) may predict a strength or weakness not yet reflected in the market action. Best is to use both types to confirm entries & exits. Well, having so babbled, I now apologize to the thousands of TAer's out there, for foisting my newly found "opinion" of TA upon the world. I also express my respect for the millions of hours they have spent (& millions more will spend) trying to unravel the statistical vagaries of the markets. I sincerely hope I haven't performed a disservice to the art. My apologies if I was vague. It really is a lot to put in a few thoughts. I don't mean to hide the elegance of wise TA in an exhibition of creative writing. I would encourage you to check the SI threads on TA. There is also a wealth of info on the web. I'm currently sucking my info out of equis.com. Carpe Diem! Lawrence