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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Time Traveler who wrote (36722)	9/3/1998 3:05:00 PM
From: Jim McMannis	Respond to of 1571539

TT, There are many types of TA and all of them don't rely on "curve fitting". As a matter of fact, basing buy/sell decisions on curve fitting alone can be very dangerous. Redundancy, using other indicators, is very critical. Since by your own admission the markets are "socialogically driven" what better measure do you have of observing the psychology than looking at charts?. Applying some mathematical formulas to the price data might just give you some better insight into the psychology of the market. This is really the premise of technical analysis. The "theory" that I was seeing if you were familiar with is called "Elliot Wave". It's premise is that movement in the markets because of psychology occurs in wave patterns. Why is all this not an "exact science"...because you are trying to predict the future. Not easy. Using all the tools at your disposal isn't a bad idea...even if you reduce the TA part to the lowest common denominator. Even if you are an Intel accumulator you'll get a better idea of when to buy if you look at a chart. Regards, Jim

To: Time Traveler who wrote (36722)	9/4/1998 10:27:00 AM
From: nihil	Respond to of 1571539

RE: TA If TA is as determinate as you suggest why aren't TA users too wealthy to waste their time advising others (especially free!. Every time I look at a chart I see broken trends, multiple tops and bottoms, and other ugly visions that could cost me money. On the other hand, if you sell Intel when it hits 90, and buy it below 75 you can make a lot of money. You have to move like lightning, because doesn't hang around very long. Use stops and limit orders and get rich. That's what the INTC chart tells me! But I don't trust even that.