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Re: sgolds post# 19677

Friday, 12/05/2003 9:35:01 AM

Friday, December 05, 2003 9:35:01 AM

Post# of 97586
sgolds, The aforementioned book presents the percentage retracements as an observation of market behavior, and does not give an explanation of why

It's clear why. Because many traders are trading based on TA, and they form the market. Market is not based on company financial prospects, market is based on how people trade.

In AMD case, the company is always at least 10% out of consensus estimates and often over 30% out. Up or down.

How can anyone trade based on consensus if it is essentially garbage? They trade just on TA.

Only Kumar is good predicting AMD, but I don't have any access to his estimates.

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