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Subject:  Re: Is Technical Analysis Voodoo? Date:  1/18/2001  11:53 PM
Author:  theFATlat Number:  5960 of 10421

I have to admit to being a closet Chartist.

I am an engineer, so I want the market to obey the laws of (non-quantum) physics. Like, F = MA. If a stock is going up, it has a mass and a momentum and it will take some really serious -F to slow it down. The problem is my open-minded (that was hard - I REALLY wanted this to work! I would be RICH!) research showed that if a stock had a mass at all, it was vanishingly small. The slightest variation in the F could cause startling changes in the value of the stock. And F was devilishly hard to predict, being the daily imbalance of buyers over sellers.

I finally had to resort to my overriding philosophy of life: "I would rather be lucky than smart". The market is a random walk. Deal with it!


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