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Technology Stocks : BAY Ntwks (under House) -- Ignore unavailable to you. Want to Upgrade?

To: Bosco who wrote (4932)	3/20/1998 7:24:00 AM
From: Liatris Spicata	Respond to of 6980

Bosco- Semi Off Topic- <<One can argue that TA [chartwise] can be as forward looking as FA, since it factors in the psychology of the buyers and sellers, as well as the option players.>> The conceptual problem I have with TA is that much of it is not related in any way I can see to human psychology or behavior. Things like support levels and resistance levels likely are correlated with ways that people actually act. But exotic things done with Fourrier Analysis of chart patterns do not correlate in any obvious way to human behavior and, therefore, I view them with suspicion- not that I know much about it. Nevertheless, a variety of qualitative disciplines have a history of misapplying the techniques of engineering and the hard sciences to tasks for which they are unsuited (Alan Sokol's spoof-study of the hermeneutics of quantum physics was a beaut- but I digress). Lazlo Biryni (sp?) wrote a book that is somewhere toward the bottom of my reading list: "The Failure of Technical Analysis". Please read it and give me the executive summary! Regards, Larry