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Small historic point. At the time of Columbus almost all the educated
people in Europe accepted that the world was round. The argument with
Columbus was over the size of the earth. Columbus thought the World was
smaller than the scholars thought. This lower "estimate" made his trip
"feasible". It turned out that the scholars were more nearly right and
Columbus more wrong on the size of the earth. The size of the earth was
correctly calculated in Newton's time by a French scientist.
You are correct "schoolbook theories do not always make practice". You only
have to look at the engineering and science theories that have been
discarded.
Lionel Issen
lissen@xxxxxxxxx
----- Original Message -----
From: "A.J. Maas" <anthmaas@xxxxxxxxx>
To: "Metastock-List" <metastock@xxxxxxxxxxxxx>
Sent: Monday, October 09, 2000 8:08 PM
Subject: Re: a beauty of a classic H&S
> Like mentioned, schoolbook theories do not always make practise.
>
> A personal thing tho, if it helps you quantifying/qualifying an already
valid pattern.
>
> Not withstanding too tho, that theories are men-made. Men throughout
history did
> not always made logical theories (or true or even practical).
> (Pre Columbus-era: the earth is flat !!!!!!!! Off late in TA: Fibbionancy
!!!!!!!!
> And on the Internet: the hoaxes !!!!!).
>
> Patterns do not need any other indicators then the Price present to be
valid.
> Neither to quantify or to qualify themselves. A simple Price indicator is
sufficient.
>
> Whatever comes next after is then men-made.....................(see
Columbus+ above).
>
> Regards,
> Ton Maas
> ms-irb@xxxxxxxxxxxxxxxx
> Dismiss the ".nospam" bit (including the dot) when replying.
> Homepage http://home.planet.nl/~anthmaas
>
>
> ----- Oorspronkelijk bericht -----
> Van: "Al Taglavore" <altag@xxxxxxxxxx>
> Aan: <metastock@xxxxxxxxxxxxx>
> Verzonden: maandag 9 oktober 2000 7:09
> Onderwerp: Re: a beauty of a classic H&S
>
>
> > Mr. Maas,
> >
> > The volume factor is not a theory, it is critical as to what the
investor
> > psychology and reactions were that caused that pattern or any TA pattern
to
> > form. To further confirm, I would refer anyone interested to John
Murphy's
> > book "Technical Analysis of the Futures Markets", page 111, under the
bold
> > heading "The Importance Of Volume". Mr. Murphy states, "The
accompanying
> > volume pattern plays an important role in the development of the head
and
> > shoulders top as it does in all price patterns." This is a direct quote
> > from the book. My copy was published in 1986. If you are going to be
in
> > attendance at the TAG seminar next week, I am certain that John would
> > discuss this with you....he has answered all of my questions in the
past.
> >
> > Also, Mr. Murphy states on page 153 of his book concerning the diamond
> > formation, "It is a relatively rare pattern but is more often seen at
> > market tops. More often that not, it is a reversal rather than a
> > continuation pattern. He also discusses the volume reactions that
should
> > accompany the pattern.
> >
> > Good trading,
> > Al Taglavore
> >
> >
> > ----------
> > > From: A.J. Maas
> > > To: Metastock-List <metastock@xxxxxxxxxxxxx>
> > > Subject: Re: a beauty of a classic H&S
> > > Date: Sunday, October 08, 2000 8:06 PM
> > >
> > > E&M also write that a Diamond is "only a correction" pattern. Now, for
> ----------snip-------------
>
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