Forum Archive Index - June 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Hugh,


>
>Well said, Snoopy!
>
>Chartism, reading chicken entrails and astrology
>belong back in the Middle Ages with Nostrodamus.
> 
>


I hope you are wearing your flame suit Hugh!  

Far be it for me to defend 'the chartists' but I think your 
criticism is a little harsh, and dare I say it disrespectful to 
those that practise this art.

Did you see Phaedrus's post in the "Learning to Invest" series, on 
long term charting?  A good post I thought, and if you believe it 
wasn't perhaps you would like to critique it?

The thing I liked about that post was that it didn't claim to 
be able to forecast the future, or have any other chicken entrail 
like qualities.  Phaedrus it seemed to me to present be quite a 
measured use of the information his chart provided.

Furthermore there can be little doubt that short term, the market is 
driven by sentiment and looking at a chart is one way to get a 
snapshot view of what is not always a 'rational' series of moments.

So personally, I am not on a crusade against chartists.  Charts are 
only a tool.  And a tool can be good or bad, depending on how it is 
used or misused.  If I do see a tool being misused or misinterpreted 
as I see it, though, I won't be reticent about pointing it out! 
SNOOPY



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