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

To: accountclosed who wrote (35370)	11/6/1998 11:16:00 AM
From: Knighty Tin	Read Replies (2) \| Respond to of 132070

AR, i should have read this note before recommending Ney's book. <G> My feeling is he cuts close to the bone and I agree with most of what he says, but he lays too much of the world's woes on the specialists. I much prefer a specialist market to a competing market maker's market. And I don't really think a specialist shot JFK or has Hoffa tied up in his basement. <G> Where I have a real problem with Ney is his attempt to use TA to follow the specialists. A mug's game, IMHO. Yes, he can show examples where it worked, just as Arch Crawford can show examples where astrology worked and a Roman priest could show you how bird's guts predicted Dell's rise. But, IMHO, it is mostly nonsense. His advice on market orders vs. limit orders is also silly for the avg. individual. The specialist in IBM is not going to spin the orders to pick off your 100 share trade. And, if you are a contrarian, there won't be a crowd with you, so he is not very threatening. MB MB