|Fri, 17 Oct 2003 23:32:05 +1000
Warren Buffet Sister In Law wrote 2 Books signed and endorsed by him. She did not learn about his methods from your woolworths story.
I am sorry but the clock analogy and the supermarket analogy cannot in any way pertain to Trading the market.
An antique clock is not a stock, commodity or share. It is collected by people that have a thing about owing them. They would not and could not purchase the clock using TA. They pay whatever price is asked and they most certainly would 'Look inside ".
The stock market is very different. Support and resistance are not theories they are facts even fundamentals look at them.
They are studied in Universities and are the subject of many researches. To ignore the fact that people buy at memory is to ignore the reality that the Market is a human entity. The first Documented Trading exchange was in Japan. The first analysis on that Rice Market was and still is TA. Japanese Candlesticks were invented during this time and were then and become now the most important Trading Tool in the Asian arsenal. Used extensivly by the Japanese, Chinese, Taiwanese, Hon Kong etc.
Please tell the Multi Billionair traders over there that they are wrong using TA as Most Asians use, Candlesticks, Kaizen,Cycle Analysis, and mathmatical calculations to Trade the Markets.
Please Send me your Charts if not Let me know if you trade any ASX stocks as I can chart all ASX.
I am sorry but I will be leaving this forum as setting up our Hedge Fund is becoming very time consuming.