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I voted for total nonsense. I think that trying to trade major indexes or widely traded stocks (e.g. Apple) on the basis of technical analysis is a fool's game for the small investor. There is no way you can beat supercomputers.

The only trading that I have done successfully based upon a type of technical analysis is for very thinly traded, illiquid stocks where there is clear market inefficiency. In this case a totally different type of pattern recognition is needed. I traded Genlye thirteen times in a row once using this type of pattern. And had good success with a few other thinly traded issues over the years. In these cases the small nimble investor has a distinct advantage vs. the elephants.

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