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Re: [sharechat] Swing Chart


From: jerrold poh <pohj@ihug.co.nz>
Date: Sun, 27 May 2001 12:47:00 +1200


yes i think you have it.  it points to the fact that future weakness might
occur, but as he said, charts can't predict the future.

lets take a hypothetical example, and lets say that you saw an announcement
that mark cowsill sold 50% of his holdings the day before the profit downgrade.
"it points to the fact that they may be future weaknesses, but you know ...
announcements can't predict the future".  (he might of needed some extra cash at
that point in time to pay off some old debts?  or maybe to help an ill family
member?)

just depends on how many indicators are they are, and how you choose to
interpret them.  like the cookie monster said, "look like cookie, smell like
cookie, taist like cookie .. mmMMMmm, must be cookie"


jerrold.


On Sun, May 27, 2001 at 09:37:07AM +1200, nick wrote:
> 
> 
>          This is what 
>            This is the part i have trouble getting my head around.
>   On the one hand you seemed to be saying that the Frucor 
>   chart indicated when to exit the stock. Therefore it must
>   have been pointing towards future weakness.  On the other hand
>   you say that charts cant predict the future. This appears to be 
>   a contradiction.
>                  What you say below for example seems to point to
>   the chart only showing what is happening after the event.
> 
>    nick
> 
> 
>         What hint was there that the stock was going to resume its upward
>         trend? None whatsoever. In fact, only the price movement of the
>         following day revealed it as a swing Low. We are merely following the
>         price action, and interpreting it using simple, predefined rules.
>
>         Phaedrus. 


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