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Strategies & Market Trends : Bill Wexler's Profits of DOOM -- Ignore unavailable to you. Want to Upgrade?

To: RumKola who wrote (491)	3/18/1998 11:32:00 PM
From: Jim Roof	Read Replies (2) \| Respond to of 4634

Don't go too far now. TA is like looking for a pattern in a sea of chaos. Every now and then a well defined feature emerges that portends a high degree of probability. You have to understand not only the nature of the chart but also the success/failure rate of the prediction. The best patterns have about 85-90% probability (the famous head and shoulders patterns are about the most predictable). Some of the others only weigh about 10-15% in your favor (bull flags and pennants can be a pain if they are not just right - look at AVNT recently for a good little flag that worked just right). Please, someone find a good short that has a really technically weak chart so I can stop being such a contrarian here. Jim