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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: cardcounter who wrote (30536)	8/4/1998 2:57:00 PM
From: Dave Feldman	Read Replies (2) \| Respond to of 132070

Cardcounter-- As a fundamentalist and a non-day-trader, could I ask you questions about how you use these kinds of projections in practice? Do you sell as soon as the market goes below 8800? What is the strong volume that you look for? Do you buy nothing until the Dow hits 8500? How long do you have to wait before you know if has held at 8500? Does it have to go below 8500 before you know it has withstood this level? I agree with you that fundamental analysis is unlikely to yield trading buys and sells, but I don't understand the reverse. How does the TA stuff keep you from simply buying things when they are more expensive and selling when they are cheaper? I don't mean this rhetorically or as a bash. I'd really like to know. Dave

To: cardcounter who wrote (30536)	8/4/1998 5:12:00 PM
From: Knighty Tin	Read Replies (1) \| Respond to of 132070

CC, I agree that fundamental analysis is not good for day trading. It is really only good for investing and speculating, not gambling. TA is also no good for day trading, but the practitioners, like the gamblers who use a modified Martingale system to play roulette, think it is. Basically, all TA tells you is to buy after the smart money bought and sell after they've sold. You can never be smart money with that philosophy. However, if you catch a strong trend, up or down, TA folks can make money until they lose it all back in the trendless false signals that inevitably follow. We have had a long period of an uptrending stock market, so TA, which I thought dead and buried and totally bankrupt intellectually, has made a big comeback. MB