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Pastimes : CNBC -- critique. -- Ignore unavailable to you. Want to Upgrade?

To: Toby Zidle who wrote (1375)	8/10/1998 8:01:00 AM
From: John Carragher	Read Replies (1) \| Respond to of 17683

Does anybody watch cnbc anymore?

To: Toby Zidle who wrote (1375)	8/10/1998 10:54:00 AM
From: capitalistbeatnik	Read Replies (3) \| Respond to of 17683

First of all, it is not true that I wont change my mind. If there is any system to improve performance, I have no reason not to incorporate it. But TA is based on a deep human desire, not a factual analysis...the desire to anticipate random events. The first assumption should always be the null hypothesis. Someone said coaches believe in streaks. This is a mistake that most NBA coaches know. For instance, you will notice that at the end of games, at crunch time, coaches rarely go the the "hot hand" but to the highest percentage play. The odds of someone making a jump shot are completely unaffected by whether or not they made the previous one. (Knowing human frailty, I would use the hot hand as a decoy to set up a high percentage play--a great example was Jordan dishing to Wennington for the easy dunk and win in the great comeback win vs the Knicks when MJ put up 55.) This is why momentum players can't beat the market. As far as Iomega, what was the trend line showing when it was the hottest stock on Wall St.? If you follow the IOM thread, there was in fact considerable disagreement among the technicians about which way this was going from the beginning. As far as how this relates to CNBC, it illustrates how even good TV is still pretty bad. To paraphrase Vita Nelson, noone has a vested interest in saying what I'm saying. Not that the only problem out of CNBC is asking about the market. The FA is so superficial as to be worthless. It would take a conversion of station policy away from sound bytes to detailed analysis and CNBC would find it's ratings in PBS territory.