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i know larry, i met him many years ago when he first hit the pc and ta
scene. i like larry, in spite of the unabashed selling out that he's
done in the last few years. so, yes, i DO know what larry is about,
having known him for close to 15 years. i may not be a "disciple", but
i am a supporter; i like the guy, vendor or not.
did you buy any of his $10,000 systems that he marketed in the mid
80's? i didn't, but they were ta all the way, no funnymentals there.
larry has flip flopped on a lot of things in his career. yep, i've got
all of ct and his books too, and they document quite of few of those as
well (i especially liked the psycho-babble phase he went through). so
this "revelation" is a non-event :))
but i'm talking about public perception. to the trading public, larry
williams is THE TA SYSTEM GURU!!! this announcement will come as a big
shock to his disciples. and maybe to his biggest critic, william
gallacher (winner take all)
but i think larry has figured out that the ta stuff he's developed over
the years works imperfectly in a linear sense. iow, his systems and
indicators are imperfect models of market reality that is clearly shown
now to be nonlinear, and hence, his (and others) studies blow up with
regularity. hey, try to find someone still trading profitably with one
of larry's $10k wunder systems, and you'll see what i mean! (i think
his "announcement" is more of an apology to those system buyers than
anything else)
like in nature, tech anal is evolving into something new, better, and
quite different, and i suspect that larry williams finally realizes
that fact.
TJ
at one time, i thought all this technical stuff meant something. i no
longer think it means much. -- larry williams
--- Jim Johnson <jejohn@xxxxxxxxx> wrote:
He has always said fundamentals are the issue in the markets--they are
just incredibly difficult to know esp over multiple markets. His
alternative has been to rely on seasonals, COT, intermarket and
intramarket spreads and sentiment of the public compared to the
commercials. Only then (generally) would he turn to pure technicals.
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