Replies to post #759 on The Black Box

[TREND1]

wahz
Don't worry about PnF, this market will not go down until
YOU tell it to (g)

[exp]

hey wahz, no, no, NO, you got it ALL WRONG my friend...
au contraire, they need to keep up this "criminal" advice for another 300+ naz points...that's the only way to qualify for a great job in a major wall street investment bank...<GGG>
and they still would be FAR from matching the stellar record of wall street gurus that kept providing everyone with advice to buy, buy, buy, and BUY SOME MORE for the past 4000+ naz points...<GGG>

see how shrewd they really are? and after all wasn't that our friend LG who said "think like a c..." <GGGGGG>

back to studying chart patterns...sorry for incursion...

i really hope your wife and daughter are getting better
george

[gottfried]

wahz, an intraday scan just now came up with 48% for bpNDX - up 3 from yesterday. The final scan when StockCharts freezes the daily data will be close to that.

The innocents should take time to learn PnF themselves instead of asking a 'guru'. From time to time I tell them that. Anybody needing instruction can go to these 2 web sites

http://208.149.108.72/cgi-bin/foxweb.exe/fwuniv

http://stockcharts.com/education/How/AnalysisTools/pnfCharts.html

Regards
Gottfried

[LG]

wahz: When using technical analysis everyone must keep in mind the best it can to is provide probabilities. As one learns to use technical analysis well, one will learn that some techniques, indicators, patterns etc., work better than others so the probabilities are higher. Combining high probability indicators and techniques can increase the likely hood of an out come even more, but they can never provide a certainty.

I am amazed at some of the analysis I read online by self styled gurus or wannabe gurus stating with a certainty of outcomes based on their analysis. If this indicator or price pattern does occur or does not occur, the price action will do this or not do that. When I read this kind of bullshit I cringe, I know I am reading an amateur.

Anyone that has been doing this for years and has been putting his or her money at risk at the same time, damn well knows there are ONLY PROBABILITIES with this stuff we use no matter how good one thinks his or her BAG OF TECHNIQUES is.

Regards,
LG