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>From my past ten year experience as a broker. The funnymentalists don't buy at
the
bottoms, no way. Since most of them use the newspapers or media at large as
their
tip, they will sell the lowest when the news front page is worst, and buy the
highest
when the news is the rosiest. As technicians, we try not to be as emotional as
them in trading. What those writers wrote just exposed themselves what their
biases are.
The only people who honestly bought the bottom or sold the top (either
funnymentalists
or technicians) are either lucky or liars.
Olof.Paulson@xxxxxxxxxxx wrote:
> from what these guys wrote sounds to me like all we "noise traders" have to
> do to be different from the "herd",i.e. make tonnes of cash...:-)
> is to set up a fundamental "equilibrium" model and wait for something to
> move out of whack( by, say 2 atr...) and then pounce on it, and make a
> killing. just before the mighty "fundamentalists come in and make the
> market normal again
>
> So, even though the model doesn't predict prices , I figure I can use their
> ideas for modelling anyway, am I missing something?
>
> Forgive any lapses of sanity, but I think the article is just too silly to
> even comment seriously, if I could comment seriously that is.....:-)
>
> have a good weekend and send me all your antitrendmodels, cause I've got no
> good ones myself :-)
>
> Olof
> ***********************
> > Felix,
> >
> > This is a classic example of academic research
> > done by someone who, pardon the vulgarity, doesn't
> > know dick about trading.
> >
> > Walt
> >
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