Forum Archive Index - May 2001

[Phaedrus <Phaedrus@techemail.com>]

Hugh,                                                       I sincerely believe 
you when you say that you have never heard of anyone making millions from 
technical analysis. 
     You have obviously never heard of Joseph Granville, Burton Pugh, B.M 
Baruch, Victor Sperandeo, Jesse Livermore, W.D Gann, Elliott, Cutten, Wyckoff - 
there is little point in going on. All of these very serious investors, 
regardless of the timeframe in which they chose to operate. 
     You seem to suffer from the influence of excessive ego involvement in your 
market decisions. There is absolutely no need whatsoever to apologise when you 
are wrong. I am wrong about 40% of the time. I don't apologise or explain (who 
to? - I am answerable to no one but myself) - I sell.  What do you do when you 
are wrong, Hugh?  Average down, I bet. Throw good money after bad, anything 
rather than admit a "mistake".
     You will find me fairly silent when "challenged" (there goes your ego 
again) to predict the future of a particular share. Totally mute in fact. For 
the last time, technical analysts do not predict the future. They interpret the 
present using mechanical methods of proven historical efficacy, holding when 
right and selling when wrong. 
                      Phaedrus.









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