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To: Jim McMannis who wrote (48887)	2/27/1998 12:41:00 AM
From: Khris Vogel	Read Replies (2) \| Respond to of 186894

I guess Engel is the last word on everything? Wow, that sure simplifies your life doesn't it? Grow up. He simply made a good point, and I chose to apply in my comment. Can you even give us a definition of Technical Analysis? Oh, you will love this. This is directly from p. 154 of Investments: Principals and Practices (2nd Ed.), by Ben Branch (Longman Financial Services Publishing), a very widely used text in colleges and b-schools (note - the boldface is mine): "Technical analysts, in contrast, concentrate on past price and volume relationships (narrow form) or technical market indicators (broad form). Both types of technical analysts claim to be able to indentify evolving investor sentiment but neither possesses a very sound theoretical base. Most technicians are not particularly concerned with a theoretical justification for their method. They are more inclined to argue that results are what ultimately matter. Taken to its logical extreme this position implies that if witchcraft produces attractive returns, investors should follow the advise of talented witches." Faced.