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DTT- the BIGGEST LAUGH in charting software industrie.
Find below the "trousious" so called expert commentary and the attached GIF
for a visual view.
The plotted red-squared line is supposely to be the RESISTANCE !!!!!!!!!!!!!!!!!!!!!
(long term<manual>), though turns out to be some sort of mid-term SUPPORT.
When I will do a new self developped DTT-Dynamic Trading Tools-Set I could use this
formula and then rename it from Long-term Resistance to Short-term Intermediate Support.
Have not done this as yet, as back-testing might turn out for this also not to be true.
Have left out all of the others, either as they where NOT(95%) plotted(formulas are TRASH)
at all or as they where WAY OFF(1500-5000%) from where they were suppose to be plotted.
The Trend-lines(auto don't work/plot at all and manual WHEN RIGHT !!!!!!!!, 95% are NOT)
are also mutulated single lines, stuck to price(not ever to get unstucked), copy&paste doesn't
function(NOT Win95-compatible) and the normaly always so handy function "Create Parallel Line"
is NOT present either, ALL of this is blocking from the creationing of Trend-Channals full stop.
Making any or the RIGHT ADJUSTments, pointer changing into hands/handles while "drawing",
a standard Win95-feature, too is NOT PRESENT.
All in all cannot clasify the tools to be useless(to me they just about are), as one is able to make
changes to the formulas, but they reminded me of lots of the other build-in useless tools
(Gann, Pitchforks,etc.) bringing MS down to a "you get what you pay" program, and as such,
up-front no high-up preferences should be set. Also neither for these so called "tools"(DTT).
The DTT also reminded me of the difference between the first DOS-programs and Win95-programs.
-never suttle
-never smooth
-never correct
-never pleasant
-never buy
-never use
The chart used(could have picked just any one) is AEGON(AGN), the insurance co., and
is known as one of the "double digit(not always) constant growers". Since last Nov97
outperforming nearly every stock, and alone over the past 20 years or so has set most
excellent records in performance(+3600% since introduction1984) as well in management
(now 5th largest stock on the AEX-Amsterdam Exchange).
When reading the below "experts"(???????????) remember that most current price
for AEGON is DGR 209 and the first commentary is "long-term" and the second is "short-term".
My opinion, the longer is way "out-dated", though myself classify 10-20 years as long and
the shorter is that for the long-term, thus not even for the mid-term (3-5 years).
Millions of buy signals have been generated before and after the date mentioned
(1464-days before ??????? what date was that? ) and these and the not so extreem rise have
"shifted" the normaly usefull support-lines' readings to more current levels(100+upwards).
Also remember these so called "experts" refer to the at the mails' top mentioned
"Support & Resistance" formulas.
For me its back to the "drawing board", manualy well to be done in MS. Emphasis on manualy,
though, uppose to the DTT.
When I do find more time(?) to experiment and strongly revision some of the DTT-formulas, then
sure will be able to get better USEFULL results then the trousious DTT have been so far, of wich
results are the same as the Mel Widners' useless Automated Support&Resistance formulas,
wich can also be thrown out.
Regards,
Ton Maas
Ms-IRB@xxxxxxxxx
<TITLE="Expert Commentary"
Equis - Support & Resistance
(longer)
Review of AEGON (AEGON)
as of 980724
AEGON broke above the upside resistance level of 13.32, 1 464 day(s) ago.
This is a bullish sign. This previous resistance level of 13.32 may now
provide downside support. Volume on the day of the breakout was neither
extremely heavy nor extremely light--providing no convincing evidence
either way as to the validity of the breakout. The most recently confirmed
downside support level for AEGON is around 10.49. Expect prices to have
some difficulty falling below this level. A break below this level (particularly
on heavy volume) would be a bearish sign.
This commentary is not a recommendation to buy or sell, but rather a guideline to
interpreting the specified indicators. This information should only be used by investors
who are aware of the risk inherent in securities trading. Equis accepts no liability
whatsoever for any loss arising from any use of this expert or its contents.
<TITLE=" Expert Commentary "
Equis - Support & Resistance
(shorter)
Review of AEGON (AEGON)
as of 980724
AEGON broke above the upside resistance level of 83.22, 163 day(s) ago.
This is a bullish sign. This previous resistance level of 83.22 may now
provide downside support. Volume on the day of the breakout was neither
extremely heavy nor extremely light--providing no convincing evidence
either way as to the validity of the breakout.
This commentary is not a recommendation to buy or sell, but rather a guideline to
interpreting the specified indicators. This information should only be used by investors
who are aware of the risk inherent in securities trading. Equis accepts no liability
whatsoever for any loss arising from any use of this expert or its contents.
Attachment Converted: "c:\eudora\attach\AEGON.gif"
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