To: Judy who wrote (24218 ) 3/12/1999 1:45:00 AM From: IQBAL LATIF Read Replies (1) | Respond to
TA is not 'Eienstien Theory of Relativity' it is simple undestandle keep it simple silly reading of basic Yahoo charts and a bird's eye view of waht when and why analysis of global macro economic events. As a technician I have learnt one small thing, within a bull market and within same set of macro-economic fundamentals i.e. low inflation and high growth asociated with strong economy leading to higher bottom lines and increasing productivity, the best service a technician can do it to define outside limits of correction like I do all the time 128 1210 and 1192. than identify the support and inform the investors of potential turn around. One clasic example is BKX 750 test of support, he reiterated a sell I said go long with tight stop loss, I sold 720 puts of BKX at that point raking in immense premium, he misled the crowd. For me a technician who does that on a bounce of 200 days support and a critical support like 750 or 1310 on composite when Acompora was big time short, and we by identifying the break in bonds came out naked on the thread crying 'eureka' go long, is the difference. He is a poor technician a man with questionable calls in a falling market. he will time his call with market momentum, a rime of biggest proportion for a honest forecaster of marekt, it is these dependencies on market movement that you see 'change of hearts' so often like many gurus on this SI. They keep posting within a day change of levels, first of all their levels are incmprehensible, than they will change from close of lgobex to market by posting new 'science'. I think I also like to challenge these characters as I move the hurdles higher for this thread, I exert pressure on my own self as I well realise that hiding daggers like in the past will come out if I make that one wrong call, that I will not, over a period of time from unashamed bull I have learnt from company of this thread a term called 'a realist' I post my levels inter-related to global indices and US indices, I look bakc at posts practically every day and than start from what I said yesterday, form e their has rarely been a day where I thought what a mistake I madeyesterday not to highlight this move. Like when I said this move is going to be based on BKX DTX and pinned 1880 I think that turnaround was a great example of predicting a borad based move, like 402 on RUT and 1130 on SP99H when 'bears' tend to rule the waves. I intnionally attack these sorry characters for two reasons I know Acompora's of the day can get a small investor into inaction, like our great heor's of SI who have been 'raping' the very concepts of technical analysis by giving and enunciating out new 'Theory of Relativities' every day. My thread is dedicated to these Eienstiens. I like to tell them as they visit my thread every second like a 'peeping tom' I coined it peeping shorts that I know TA is not theory of relativity, if you cannot define basis of your trade don't mislead others. Imagine what would have happened if market was at 4500 as 'MANY OF THESE GUYS PREDICTED' i FOR ONE WOULD NOT BE CHEEKY ENOUGH TO STILL SAY MY LONG PUTS ARE STILL CARRYING PREMIUMS.
